Section OC 14 — Income Tax Act 2007: FDPA refund of FDP

OC 14 FDPA refund of FDP Debit (1) An FDPA company has an FDP debit for the amount of a refund of FDP paid to the company. Subsection (3) overrides this subsection. Table reference (2) The FDP debit in subsection (1) is referred to in table O4: FDP debits, row 3 (refund of FDP). No debit (3) The company does not have a debit for the amount of a refund to the extent to which it refunds FDP paid before a debit arises under section OC 24 (table O4: FDP debits, row 13 (debit for loss of shareholder continuity)). Debit date (4) The debit date is the day the refund is made. Defined in this Act: amount , FDP , FDP account , FDP debit , FDPA company , pay , Compare: 2004 No 35 s MG 5(1)(d), (2)(d) Section OC 14(3): replaced (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section 95(1) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).