Taxation Laws Amendment Act (No. 6) 2003 (67 of 2003)
Schedule 10 Trans-Tasman triangular imputation
Part 2 Related amendments
Division 1 Consequential amendments
Taxation Administration Act 1953
12 Subsection 250-10(2) in Schedule 1 (after note 2)
Insert:
Note 3: Companies that are or were members of the same wholly-owned group as an NZ franking company may be jointly and severally liable to pay certain tax-related liabilities of the NZ franking company (see Division 220 of the Income Tax Assessment Act 1997).
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