Section OP 41 — Income Tax Act 2007: Consolidated ICA credit transfer by company

OP 41 Consolidated ICA credit transfer by company 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 a part of the consolidated imputation group; and (b) the amount is shown in a credit transfer notice given by the company. Table reference (2) The imputation debit in subsection (1) is referred to in table O20: imputation debits of consolidated imputation groups, row 15 (credit transfer). Debit date (3) The debit date is the day the dividend is paid. Defined in this Act: amount , company , consolidated imputation group , credit transfer notice , dividend , imputation credit , imputation debit , pay , Compare: 2004 No 35 s ME 12(1)(ad), (2)(ac)