| Submission Number |
122 |
| Submitter |
BDO |
Section / Provision Income Tax Act 2007 |
CD 39(9)(c), RD 36(2)(c), CD 39(9)(b) |
Section / Provision Income Tax Act 2004 |
CD 28(9)(c), ND 1E(2)(c), CD 28(9)b) |
Date Received |
14/10/09 |
| Description of issue |
1. Dividends with nil RWT or NRWT to pay could be included as a
backdated repayment
2. Concept of \"income\" is much larger than concept of \"gross
income\" in the ITA 1994
3. Concept of \"income\" is much larger than concept of \"gross
income\" in ITA 1994 |
| Section / Provision Income Tax Act 1994 |
CF 2(12)(b)(v), CI 3(3)(c), CF 2(12)(b)(iv) |
| Status |
Pending |
| Outcome |
The Panel concludes there is an unintended legislative change on
three issues, refer to PAD to review underlying policy and amend
legislation as appropriate – prospectively and add schedule 22a
of the Income Tax Act – intended policy change. |
