Taxation of certain entities - Qualifying companies (QC)
HA 38: Elections by directors and shareholders required
You could also call this:
“Directors and shareholders no longer need to make tax-related elections”
This section of the law, called ‘Elections by directors and shareholders required’, was part of the rules about how certain groups are taxed under the Income Tax Act 2007. However, it’s important for you to know that this part of the law doesn’t apply anymore. The government removed it on 1 April 2011. This means that from that date, whatever rules were in this section no longer affect how these groups are taxed.
“How to cancel choices made for taxing certain groups (no longer applies)”
Part H
Taxation of certain entities
Qualifying companies (QC)
HA 38Elections by directors and shareholders required (Repealed)
Notes
Section HA 38: repealed, on (applying for income years beginning on or after 1 April 2011), by section 77(1) of the Taxation (GST and Remedial Matters) Act 2010 (2010 No 130).
