Section OZ 10 — Income Tax Act 2007: Modifying ratios for imputation credits and FDP credits

OZ 10 Modifying ratios for imputation credits and FDP credits When this section applies (1) This section applies when— (a) a person derives a dividend in the period from 1 October 2010 to 31 March 2013; and (b) the dividend and the imputation credits and FDP credits attached to the dividend, as applicable, have— (i) an imputation ratio greater than 28/72 and less than or equal to 30/70; or (ii) an FDP ratio greater than 28/72 and less than or equal to 30/70; or (iii) a combined imputation and FDP ratio greater than 28/72 and less than or equal to 30/70. Ratio applying (2) For the purposes of sections LE 8 , LE 9 , LF 6 , and LF 7 (which relate to tax credits for imputation credits and FDP credits), if the amount of the imputation credit or FDP credit, as applicable, is limited by the maximum permitted ratio set out in section OA 18 (Calculation of maximum permitted ratios), the relevant ratio is treated as 30/70. Defined in this Act: combined imputation and FDP ratio , dividend , FDP credit , FDP ratio , imputation credit , imputation ratio , maximum permitted ratio , transitional period Section OZ 10: added, on 1 April 2008, by section 520 of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109). Section OZ 10(1)(a): amended, on 1 October 2010, by section 17(1) of the Taxation (Budget Measures) Act 2010 (2010 No 27). Section OZ 10(1)(b)(i): amended, on 1 October 2010, by section 17(2)(a) of the Taxation (Budget Measures) Act 2010 (2010 No 27). Section OZ 10(1)(b)(i): amended, on 1 October 2010, by section 17(2)(b) of the Taxation (Budget Measures) Act 2010 (2010 No 27). Section OZ 10(1)(b)(ii): amended, on 1 October 2010, by section 17(2)(a) of the Taxation (Budget Measures) Act 2010 (2010 No 27). Section OZ 10(1)(b)(ii): amended, on 1 October 2010, by section 17(2)(b) of the Taxation (Budget Measures) Act 2010 (2010 No 27). Section OZ 10(1)(b)(iii): amended, on 1 October 2010, by section 17(2)(a) of the Taxation (Budget Measures) Act 2010 (2010 No 27). Section OZ 10(1)(b)(iii): amended, on 1 October 2010, by section 17(2)(b) of the Taxation (Budget Measures) Act 2010 (2010 No 27). Section OZ 10(2): amended, on 1 October 2010, by section 17(3) of the Taxation (Budget Measures) Act 2010 (2010 No 27). Section OZ 10(2): amended (with effect on 1 April 2008), on 6 October 2009, by section 486(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section OZ 10 compare note: repealed (with effect on 1 April 2008), on 21 December 2010, by section 119 of the Taxation (GST and Remedial Matters) Act 2010 (2010, No 130).