Section RZ 11 — Income Tax Act 2007: Refunds for life insurers

RZ 11 Refunds for life insurers The Commissioner must refund an amount of tax that a life insurer has paid to the extent to which–– (a) the tax paid gave rise to imputation credits; and (b) for a tax year corresponding to an income year before the income year that includes 1 July 2010, the life insurer would be entitled to a refund under section RM 2(1) (Refunds for overpaid tax) or any provision corresponding to it in an earlier Act, treating section RM 2(1)(a) and any corresponding provision as modified so as to exclude the amount of the life insurer's policyholder base income tax liability from the tax required to be paid by them; and (c) all other relevant requirements for a refund are met. Defined in this Act: amount of tax , Commissioner , imputation credit , income year , life insurer , pay , policyholder base income tax liability , tax Section RZ 11: added (with effect on 1 April 2008), on 6 October 2009, by section 556 of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).