Section RM 14 — Income Tax Act 2007: Limits on refunds when company stops being ICA company

RM 14 Limits on refunds when company stops being ICA company When this section applies (1) This section applies when a company stops being an ICA company and is entitled to have a refund or to make a transfer under section RM 13(1) for a tax year in which it was an ICA company. Limit on amount of refund or transfer (2) The total amount refunded or transferred must be no more than the final balance of the imputation credit account arising as a debit under section OB 56 (ICA final balance) just before the company stopped being an ICA company. Defined in this Act: amount , company , ICA company , imputation credit account , tax year , Compare: 2004 No 35 s MD 2(2)