|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The FDP rules have been fully repealed from 1 April 2017.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 www.ird.govt.nz (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:
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.