New Zealand Amends Trans Tasman Imputation Rules
28 Aug 06 |
TAX NOTES INTERNATIONAL
Issue: Vol.39 no.5 1 August 2005
In order to close a loophole Australian groups of companies have been exploiting to take advantage of New Zealand tax rules on dividends and imputation credits, the Minister of Finance tabled legislation in Parliament to amend the Income Tax Act 2004. The amendment will prevent companies from allocating imputation credits to dividends paid to New Zealand investors if the payment of the dividends results in tax deductions in Australia.
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Adrian is Professor of Taxation in the
Department of Accounting and Information Systems at the University of Canterbury,
- Current at
01 March 2015