»Ê¹ÚÌåÓýapp

CT = Corporation TaxÌý

AP = accounting periodÌý

PRE-STEP 1 RESTRICTIONÌý

»Ê¹ÚÌåÓýapp amount of credit brought forwardÌýand the amount of credit received from group member(s) are used, in that order, to discharge the CT liability for this AP.Ìý

If there were any excess credit remainingÌýafter discharge, it would be treated as if it had not been surrendered. »Ê¹ÚÌåÓýapp surrendering company should adjust its calculationsÌýas necessary.Ìý

STEP 1Ìý

»Ê¹ÚÌåÓýapp credit amount for this AP is used to discharge the remaining CT liability for this AP.Ìý

STEPS 2 TO 6Ìý

As there is no more credit remainingÌýafter Step 1, there is no need to apply Steps 2 to 6.Ìý

SURRENDER TO GROUP MEMBERÌý

If the company is a member of a group, it may surrender some or all ofÌýthe amountÌýwithheld at Step 2, plus any credit brought forward and not used at the pre-Step 1 restriction, to any other member of the same group.Ìý

Company 4 has no amount of credit withheld at Step 2 or unused credit brought forward, so there is no need to consider a surrender.Ìý

AMOUNTS CARRIED FORWARDÌý

Any amount withheld at Step 2 and/or any unused credit brought forward which is not surrendered to a group member is carried forward to the next AP.Ìý

Company 4 has no amount of credit withheld at Step 2 or unused credit brought forward, so there is no amount carried forward.Ìý