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IR4J Question 8 Debits





Australian companies which elect to maintain a New Zealand ICA should include debits in Questions 8C and 8D only.

8A Income tax refunded

Write in Box 8A the company’s total income tax refunds received from 1 April 2018 to 31 March 2019 for 1989 and later income years. Don’t include any interest on tax received or income tax refunded for any year before 1989.

8B FDP refunds

The FDP rules have been fully repealed from 1 April 2017. Don’t include an amount at 8B.

8C Imputation credits attached to dividends paid

If the company paid dividends from 1 April 2018 to 31 March 2019 with imputation credits attached, write the total credits in Box 8C.

For a company that has claimed an R&D loss tax credit, no imputation credits will be available until that company has repaid the cashed-out amounts. For more information about the R&D loss tax credit go to (search keywords: R&D).


8D Other debits

List any other debits in the ICA and write the total in Box 8D.

Other types of debits include:

  • any provisional tax allocated by the company to a company in the same wholly owned group that has underpaid its provisional tax

  • an adjustment for a change of shareholding of more than 34% during the period 1 April 2018 and 31 March 2019 regardless of your accounting year

  • an adjustment for a change in an imputation ratio

  • tax payable by a company on any part of a distribution that is not sourced from the subscribed capital of the company, where that company repurchases a share on-market.

Qualifying companies

The 66% continuity of shareholding requirement does not apply to qualifying companies. There is no need to make an adjustment where there has been a change of shareholding, except in the year the company ceases to be a qualifying company.

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