Section OP 28 — Income Tax Act 2007: Consolidated ICA payment of dividend

OP 28 Consolidated ICA payment of dividend Debit (1) A consolidated imputation group has an imputation debit for an amount that equals the amount of an imputation credit attached to a dividend paid by a group company. Table reference (2) The imputation debit in subsection (1) is referred to in table O20: imputation debits of consolidated imputation groups, row 2 (payment of dividend). Debit date (3) The debit date is the day the dividend is paid. Arrangement for dividend from another country (4) Section GB 38 (When sections GB 35 to GB 37 apply to consolidated groups) may apply to treat an amount as a debit under this section. Defined in this Act: amount , company , consolidated imputation group , dividend , imputation credit , imputation debit , pay , Compare: 2004 No 35 s ME 12(1)(a), (2)(a)