Section RC 33 — Income Tax Act 2007: Amalgamated companies: calculating residual income tax

RC 33 Amalgamated companies: calculating residual income tax When this section applies (1) This section applies for a tax year when an amalgamating company ends its existence on an amalgamation. Residual income tax for preceding tax year (2) The residual income tax of the amalgamated company for the preceding tax year is the amount that would have been the residual income tax of the amalgamated company for the preceding tax year if the amalgamating company and the amalgamated company had been 1 company. Exclusion (3) Subsection (2) does not apply for the purposes of the provisional tax rules in relation to instalments of provisional tax payable before the amalgamation. Defined in this Act: amalgamated company , amalgamating company , amalgamation , amount , pay , provisional tax , provisional tax rules , residual income tax , tax year , Compare: 2004 No 35 s MB 34