Section RM 19 — Income Tax Act 2007: Treatment of financial arrangements

RM 19 Treatment of financial arrangements When this section applies (1) This section applies when a company is entitled to a refund of FDP under section CD 50(10) to (13) (Outstanding balances of financial arrangements). Credit balance increased (2) The amount of the company’s credit balance under section RM 18(1) is treated as increased by the amount of a debit in the company’s imputation credit account or FDP account arising under section OB 41 or OC 24 (which relate to imputation debits and FDP debits for loss of shareholder continuity), as applicable, after the date on which the payment was made and before the date on which the credit balance is determined under section RM 18(1) . Defined in this Act: amount , company , FDP , FDP account , foreign dividend , imputation credit account , pay , Compare: 2004 No 35 s NH 4(4)(a)