Section OC 30 — Income Tax Act 2007: Payment of further income tax for closing debit balance

OC 30 Payment of further income tax for closing debit balance Liability (1) An FDPA company or consolidated FDP group is liable to pay further income tax for a closing debit balance in the FDP account of the company or the group. Due date (2) The company or group must pay the further income tax to the Commissioner no later than the 20 June following the end of the tax year. Application of other provisions [Repealed] (3) [Repealed] FDP credit for payment under subsection (1) (4) An FDPA company has an FDP credit for an amount of further income tax paid under subsection (1). Defined in this Act: amount , Commissioner , company , consolidated FDP group , FDP account , FDPA company , FDP credit , further income tax , pay , tax year , Compare: 2004 No 35 s MG 9(1), (2), (6) Section OC 30 heading: amended (with effect on 30 June 2009), on 6 October 2009, by section 413(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section OC 30(1) heading: substituted (with effect on 30 June 2009), on 6 October 2009, by section 413(2) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section OC 30(1): substituted (with effect on 30 June 2009), on 6 October 2009, by section 413(2) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section OC 30(2) heading: substituted (with effect on 30 June 2009), on 6 October 2009, by section 413(2) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section OC 30(2): substituted (with effect on 30 June 2009), on 6 October 2009, by section 413(2) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section OC 30(3) heading: repealed (with effect on 30 June 2009), on 6 October 2009, pursuant to section 413(3) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section OC 30(3): repealed (with effect on 30 June 2009), on 6 October 2009, by section 413(3) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section OC 30(4) heading: inserted (with effect on 30 June 2009), on 2 November 2012 (applying for income years beginning on or after 1 July 2009), by section 131(1) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88). Section OC 30(4): inserted (with effect on 30 June 2009), on 2 November 2012 (applying for income years beginning on or after 1 July 2009), by section 131(1) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88). Section OC 30 list of defined terms FDP credit : inserted (with effect on 30 June 2009), on 2 November 2012, by section 131(1) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88). Section OC 30 list of defined terms FDP rules : repealed (with effect on 30 June 2009), on 6 October 2009, by section 413(4)(a) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section OC 30 list of defined terms further FDP : repealed (with effect on 30 June 2009), on 6 October 2009, by section 413(4)(a) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section OC 30 list of defined terms income tax : repealed (with effect on 30 June 2009), on 6 October 2009, by section 413(4)(a) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section OC 30 list of defined terms further income tax : inserted (with effect on 30 June 2009), on 6 October 2009, by section 413(4)(b) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).