Section RE 25 — Income Tax Act 2007: When amount of tax treated as imputation credit

RE 25 When amount of tax treated as imputation credit When this section applies (1) This section applies when a share user under a share-lending arrangement withholds under the RWT rules an amount of tax for a replacement payment. Imputation credit (2) The amount of tax withheld— (a) is treated for the share supplier as an imputation credit attached to the replacement payment in addition to an imputation credit that the share user attached to the payment under section OB 64 (Replacement payments); and (b) does not give rise under section LB 3 (Tax credits for resident withholding tax) to a tax credit or refund for the share supplier. Defined in this Act: amount of tax , imputation credit , replacement payment , RWT rules , share-lending arrangement , share supplier , share user , tax credit , Compare: 2004 No 35 s NF 8B