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New Zealand Amends Trans Tasman Imputation Rules

Publication date: 28 Aug 06 | Source: TAX NOTES INTERNATIONAL

Issue: Vol.39 no.5 1 August 2005

Pages: pp.397-400

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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Author profile

Prof Adrian Sawyer
Adrian is Professor of Taxation in the Department of Accounting and Information Systems at the University of Canterbury, Christchurch NZ. - Current at 01 March 2015
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