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| Thread ID: 96884 | 2009-01-27 11:39:00 | NZ Taxation | ephesus (2509) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 742426 | 2009-01-27 11:39:00 | Can anyone explain how to apply the rules for 1. Carry forward losses 2. Excess imputation credit carry forward eg. carry forward losses can be used against income, what about excess credits? Which one willl be used first? Can't find the answers on IRD site so any advice would be appreciated. |
ephesus (2509) | ||
| 742427 | 2009-01-27 18:54:00 | Losses are used first, as they are in the calculation of assessable income. Imputation credits are deducted from the tax on assessable income. This assumes you are talking about an individual. Companies and Trusts have their unused imputation credits converted to losses. | wotz (335) | ||
| 742428 | 2009-01-27 19:23:00 | Can't find the answers on IRD site so any advice would be appreciated. Would suggest that you phone or email the IRD and ask them. I have found them very helpful when I needed things clarified. |
FoxyMX (5) | ||
| 742429 | 2009-01-27 22:44:00 | Thanks. | ephesus (2509) | ||
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