INCOME TAX ASSESSMENT ACT 1997 - SECT 220.15 Objects
INCOME TAX ASSESSMENT ACT 1997 - SECT 220.15
Objects(1) The 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.
(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.