INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 220 - Imputation for NZ resident companies and related companies  

Subdivision 220-C - Modifications of other Divisions of this Part  

Franking NZ franking companies' distributions

SECTION 220-105   Unfrankable distributions by NZ franking companies  

220-105(1)  
These *distributions by an *NZ franking company are *unfrankable:


(a) a conduit tax relief additional dividend (as defined in section OB1 of the Income Tax Act 1994 of New Zealand);


(b) a supplementary dividend (as defined in that section).

220-105(2)  
This section does not limit section 202-45 (about *unfrankable distributions).


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