Section OB 40 — Income Tax Act 2007: ICA attribution for personal services

OB 40 ICA attribution for personal services Debit (1) An ICA company has an imputation debit for an amount of an attribution for personal services equal to the amount of an imputation credit under section OB 16 . Table references (2) The imputation debit in subsection (1) is referred to in table O2: imputation debits, row 13 (attribution for personal services). The imputation credit in subsection (1) is referred to in table O1: imputation credits, row 14 (attribution for personal services). Accounts adjusted (3) A debit under subsection (1) is recorded in the imputation credit account only if the company has accounted for an attribution of income under section GB 29 (Attribution rule: calculation). Debit date (4) The debit date is the last day of the tax year that falls in the income year for which the company accounts in its financial statements for the attribution of income referred to in subsection (3). Defined in this Act: amount , financial statements , ICA company , imputation credit , imputation credit account , imputation debit , income , income year , tax year , Compare: 2004 No 35 s ME 5(1)(ia), (2)(ha)