Section OP 4 — Income Tax Act 2007: Resident imputation subgroups

OP 4 Resident imputation subgroups Subgroup of trans-Tasman imputation group (1) The resident imputation subgroup of a trans-Tasman imputation group must record in its imputation credit account the credits and debits described in subsection (2). Eligible credits and debits (2) The credits and debits referred to in subsection (1) are those that arise in the imputation credit account of the subgroup’s trans-Tasman imputation group in relation to a company that— (a) will be part of the subgroup if the credit or debit arises before the subgroup is formed; or (b) is part of the subgroup if the credit or debit arises when or after the subgroup is formed. Defined in this Act: company , imputation credit account , imputation group , resident imputation subgroup , trans-Tasman imputation group , Compare: 2004 No 35 s ME 10(1C)