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Refund of imputation credits

Love, Nathalie (2001) Refund of imputation credits. Queensland University of Technology, Brisbane. [Working Paper]

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Abstract

The purpose of this paper is to explain the features of the new provisions for the refund of imputation credits, which are contained in the New Business Tax System (Miscellaneous) Act (No1) 2000.1 The provisions have been introduced to ensure that:

 certain eligible resident taxpayers are taxed on their dividend income at their personal marginal rate of tax; and

 certain eligible resident nonprofit organisations can apply their tax exemption on their dividend income.

The provisions are contained in Division 67 of the Income Tax Assessment Act 1997 for refunds to resident individuals and superannuation entities and Division 7AA of Part IIIA of the Income Tax Assessment Act 1936 for refunds to endorsed income tax exempt charities and certain deductible gift recipients.

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ID Code: 50114
Item Type: Working Paper
Keywords: Imputaton Credits, Tax
ISBN: 1864355336
ISSN: 107-1516
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100) > Taxation Accounting (150107)
Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000)
Copyright Owner: Copyright 2001 Queensland University of Technology Published by the Program on Nonprofit Corporations
Deposited On: 08 May 2012 10:58
Last Modified: 08 May 2012 14:20

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