Section OP 40 — Income Tax Act 2007: Consolidated ICA returning share transfer

OP 40 Consolidated ICA returning share transfer Debit (1) A consolidated imputation group has an imputation debit for the amount of an imputation credit attached to a dividend paid to a company if— (a) at the time of payment, the company is part of the consolidated imputation group; and (b) the dividend is paid to the company as a share user, or a person associated with a share user, in a returning share transfer that is not a share-lending arrangement. Table reference (2) The imputation debit in subsection (1) is referred to in table O20: imputation debits of consolidated imputation groups, row 14 (returning share transfer). Debit date (3) The debit date is the day the dividend is paid. Defined in this Act: amount , associated person , company , consolidated imputation group , dividend , imputation credit , imputation debit , pay , returning share transfer , share-lending arrangement , share user , Compare: 2004 No 35 s ME 12(1)(ac), (2)(ac)