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Income Tax (Trading and Other Income) Act 2005

Section 410: When stock dividend income arises

1658.This section explains when and to whom stock dividend income is treated as arising. It is based on section 249(4) to (6) of ICTA.

1659.If stock dividends are issued to personal representatives during the administration period, stock dividend income is treated as arising (see subsection (4)) but that income is not taxed under Chapter 5 of this Part. Instead, that income forms part of the aggregate income of the estate for the purposes of Chapter 6 of Part 5 of this Act or section 701(8) of ICTA. “Personal representatives” is defined in section 878 of this Act.

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