Section RF 9 — Income Tax Act 2007: When dividends fully imputed or fully credited

RF 9 When dividends fully imputed or fully credited When this section applies (1) This section applies for the purposes of sections RF 8 , RF 10 , and RF 11B to determine the extent to which a dividend is fully imputed or fully credited for FDP. Fully imputed (2) The extent to which a dividend is fully imputed is calculated using the formula— (imputation credit amount + supplementary dividend amount) × 1 − tax rate tax rate. Definition of items in formula (3) In the formula in subsection (2),— (a) imputation credit amount is the amount of an imputation credit attached to the dividend: (b) supplementary dividend amount is the amount of a supplementary dividend payable under subpart LP (Tax credits for supplementary dividends) for the dividend: (c) tax rate is the basic rate of income tax set out in schedule 1, part A, clause 2 , (Basic tax rates: income tax, ESCT, RSCT, RWT, and attributed fringe benefits) for the tax year in which the dividend is paid. Fully credited for FDP (4) The extent to which a dividend is fully credited for FDP is calculated using the formula— FDP credit amount tax rate. Definition of items in formula (5) In the formula in subsection (4),— (a) FDP credit amount is the amount of FDP credit attached to the dividend: (b) tax rate is the basic rate of income tax set out in schedule 1, part A, clause 2 . Fully credited for conduit tax relief [Repealed] (6) [Repealed] Definition of item in formula [Repealed] (7) [Repealed] Defined in this Act: amount , dividend , FDP , FDP credit , imputation credit , income tax , pay , supplementary dividend , tax year , Compare: 2004 No 35 ss NG 2(3), (4) , OB 1 “ fully conduit tax relief credited ” Section RF 9(1): amended (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section 129(1) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34). Section RF 9(1): amended, on 1 February 2010, by section 114 of the Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 (2009 No 63). Section RF 9(1): amended (with effect on 1 April 2008), on 6 October 2009, by section 533(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section RF 9(3)(c) tax rate : amended, on 1 April 2008, by section 562 of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109). Section RF 9(6) heading: repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, pursuant to section 129(2) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34). Section RF 9(6): repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section 129(2) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34). Section RF 9(7) heading: repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, pursuant to section 129(2) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34). Section RF 9(7): repealed (with effect on 1 July 2011 and applying for income years beginning on or after that date), on 7 May 2012, by section 129(2) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34). Section RF 9 list of defined terms fully credited for conduit tax relief : repealed (with effect on 1 July 2011), on 7 May 2012, by section 129(3) of the Taxation (International Investment and Remedial Matters) Act 2012 (2012 No 34).