Section OP 68 — Income Tax Act 2007: Consolidated FDPA refund of tax credit

OP 68 Consolidated FDPA refund of tax credit Debit (1) A consolidated FDP group has an FDP debit for the amount of a transfer or refund under section LA 6(2)(d) or (e) (Remaining refundable credits: PAYE, RWT, and certain other items) to the extent to which the amount transferred or refunded is a tax credit under subpart LF (Tax credits for FDP credits) relating to a dividend derived by a group company that is part of the group at the time it derives the dividend. Table reference (2) The FDP debit in subsection (1) is referred to in table O22: FDP debits of consolidated FDP groups, row 6 (refund of tax credit). Debit date (3) The debit date is the day the transfer or refund is made. Defined in this Act: company , consolidated FDP group , tax credit , dividend , FDP debit , Compare: 2004 No 35 s MG 15(1)(e), (2)(d) Section OP 68(1): substituted (with effect on 1 April 2008), on 6 October 2009, by section 466(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section OP 68(3): substituted (with effect on 1 April 2008), on 6 October 2009, by section 466(2) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).