Income Tax Assessment Act 1997
View history note
Hide history noteThe main objects of this Division are:
(a) to allow a company that is an *NZ resident to choose that the *imputation system apply in relation to it; and
(b) if the company makes that choice, to apply the rest of this Part in relation to the company generally as if it were an Australian resident.
220-15(2)
Another object of this Division is to prevent the benefits of the *imputation system from being inappropriately made available to or through a *member of a company that is a foreign resident, by modifying the way in which the rest of this Part applies to:
(a) a company that has chosen that the system apply in relation to it; and
(b) other companies that are members of the same *wholly-owned group as that company; and
(c) other entities that receive (directly or indirectly) *distributions from that company.
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