iii the shares redeemed were not issued pursuant to an arrangement under which they were to be redeemed in a regular or systematic way such that it may reasonably be concluded that the return of capital is made in lieu of a dividend; Carry Forward of Credits by a Company co a 75 percent commonality of shareholding (using the tests presently contained in section 188 of the Act but extended to include fixed dividend shares) be required for a company, other than a company listed on the New Zealand stock exchange or a wholly-owned subsidiary of such a company, to be able to carry forward the credit balance of its ICA, WPA or BETA; Carry Forward of Unutilised Imputation Credits cp all resident taxpayers, other than companies, be able to convert any imputation credits in excess of their tax liability in any income year into a tax loss to be carried forward, with the amount of the loss calculated as the total amount of the unutilised credit divided by 0.28; Refunds of Dividend Withholding Payment cq refunds of dividend withholding payment to all shareholders, irrespective of their residence or tax status, be made by the Department after the end of the income year in which the corresponding withholding credit was received; cr where a withholding payment credit is allocated to a dividend paid to a the non-resident withholding tax payable on the dividend be offset to the extent of the withholding payment credit; Integration With BE Regime: Individuals
iii the shares redeemed were not issued pursuant to an arrangement under which they were to be redeemed in a regular or systematic way such that it may reasonably be concluded that the return of capital is made in lieu of a dividend; Carry Forward of Credits by a Company co a 75 percent commonality of shareholding (using the tests presently contained in section 188 of the Act but extended to include fixed dividend shares) be required for a company, other than a company listed on the New Zealand stock exchange or a wholly-owned subsidiary of such a company, to be able to carry forward the credit balance of its ICA, WPA or BETA; Carry Forward of Unutilised Imputation Credits cp all resident taxpayers, other than companies, be able to convert any imputation credits in excess of their tax liability in any income year into a tax loss to be carried forward, with the amount of the loss calculated as the total amount of the unutilised credit divided by 0.28; Refunds of Dividend Withholding Payment cq refunds of dividend withholding payment to all shareholders, irrespective of their residence or tax status, be made by the Department after the end of the income year in which the corresponding withholding credit was received; cr where a withholding payment credit is allocated to a dividend paid to a the non-resident withholding tax payable on the dividend be offset to the extent of the withholding payment credit; Integration With BE Regime: Individuals