Section Sch50-“ 24K — Income Tax Act 2007: Certain information required in returns

“ 24K Certain information required in returns “ (1) This section applies for the purposes of sections RE 23 and RE 24 of the Income Tax Act 2007 when— “ (a) an amount of tax for resident passive income paid in a tax year by a company is treated as an FDP credit: “ (b) an amount of tax for a taxable Maori authority distribution is treated as a Maori authority credit attached to the distribution. “ (2) The company paying the dividend and withholding the amount of tax under section RA 6(1) of that Act must provide to the Commissioner information in relation to the amount of tax in— “ (a) its annual FDPA return under section 71; or “ (b) if paragraph (a) does not apply, its annual ICA return under section 69. “ (3) For the purposes of subsection (2) and the payment of the dividend, the company must provide to the Commissioner information in relation to the dividend in— “ (a) its dividend statement under section 67 if it is an ICA company; or “ (b) if paragraph (a) does not apply, a form approved by the Commissioner, containing the information set out in section 67(a) to (c) and (f) and filed no later than 31 May after the end of the tax year. “ (4) The Maori authority making the distribution and withholding the amount of tax under section RA 6(1) of the Income Tax Act 2007 must provide to the Commissioner information in relation to the amount of tax in its annual Maori authority credit account return. “ (5) For the purposes of subsection (4) and the making of the distribution, the Maori authority must provide to the Commissioner information in relation to the distribution in the distribution statement prepared under section 68B. “ Compare: 2004 No 35 ss NF 8(2)–(4), NF 8A