Section OB 47 — Income Tax Act 2007: Debit for policyholder base imputation credits

OB 47 Debit for policyholder base imputation credits Debit (1) An ICA company has an imputation debit for the amount of an imputation credit attached to a dividend derived by the company, to the extent to which it is derived by it as a life insurer and apportioned to their policyholder base. Table reference (2) The imputation debit in subsection (1) is referred to in table O2: imputation debits, row 20 (debit for policyholder base imputation credits). Debit date (3) The debit date is the last day of the tax year. Defined in this Act: ICA company , imputation credit , imputation debit , life insurer , policyholder base , tax year Section OB 47: substituted, on 1 July 2010, by section 396(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).