Section OZ 14 — Income Tax Act 2007: Dividends from qualifying companies

OZ 14 Dividends from qualifying companies When this section applies (1) This section applies when— (a) a qualifying company pays a dividend in the transitional period; and (b) section OZ 8 applies to the dividend. Exempt income (2) In the calculation under section HA 14 (Dividends paid by qualifying companies) the extent to which the dividend is exempt income of the person, item tax rate in the formula in section HA 15(2) (Fully imputed dividends) is treated as 0.30. Defined in this Act: dividend , exempt income , qualifying company , transitional period Section OZ 14: added, on 1 April 2008, by section 520 of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109). Section OZ 14(2): amended, on 1 October 2010, by section 21 of the Taxation (Budget Measures) Act 2010 (2010 No 27). Section OZ 14 compare note: repealed (with effect on 1 April 2008), on 21 December 2010, by section 119 of the Taxation (GST and Remedial Matters) Act 2010 (2010, No 130).