Commentary

D1.221 Distributions

Corporate tax
Corporate tax | Commentary

D1.221 Distributions

Corporate tax | Commentary

D1.221 Distributions

There are special provisions in CTA 2010, ss 1070–1071 relating to the distributions of companies carrying on mutual business, or not carrying on a business.

The rules relating to distributions only apply to a company carrying on a mutual trade to the extent that distributions are made out of taxable profits or, from 6 April 2016, exempt ABGH distributions (prior to 6 April 2016, franked investment income (FII)). The term 'AGBH distribution' was introduced as part of the changes introduced to dividend taxation from 6 April 2016 which included abolition of the dividend tax credit, changes to dividend tax

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