Tax pooling ICA rules can be complicated. Our IC guide sets out the potential impacts of your pooling transactions and helps you to complete your IR4J in record time.
Accessing the report
To access the Imputation Credit Guide, navigate to the taxpayer you want to see the report for and then select Reports > Imputation Credit Guide.
Note: the guide will only appear for those taxpayers where it is relevant (i.e. companies with tax-pooling transactions).
How to read the guide
The guide presents the effective imputation date of various pooling transactions and groups these into the following three sections:
1. Confirmed current period credits – this section presents credits that impact the selected period including:
- Deposits recognised on the day of deposit
- Purchased funds on the day of transfer to IR
- Offsetting credits arising on the sale of purchased funds held in the pool
- The buy side of funds swapped and transferred to IR.
2. Debits that may apply to the selected period – these debits may apply to the selected period or another period depending on the imputation credit balance at the prior 31 March. This includes:
- Sales and refunds of tax
- The sell side of swaps transactions
- Transfers to associated taxpayers.
3. Unrecognised current period credits – this section presents purchased funds that are still held in the tax pool. That is, they haven't been transferred to IR yet and therefore cannot be recognised.
💡Tips:
- For more details on a transaction, click on the transaction line
- Export as a PDF or excel format for your workpapers
- You may need to adjust for transfers to associated parties that are part of an imputation group or consolidated tax groups.
Want to know more?
Refer to the below articles for detail on how and when tax pool transactions are accounted for in the imputation credit account.