Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Taxation of certain entities - Qualifying companies (QC)

HA 42: Paying qualifying company election tax

You could also call this:

“How to pay the special tax to become a qualifying company”

If you want to become a qualifying company, you need to pay a special tax called the qualifying company election tax. You must pay this tax to the Commissioner. The deadline for paying this tax is your company’s terminal tax date. This date is in the tax year that matches the income year when you decide to become a qualifying company. You can find more information about this tax in section HA 40.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1517240.

Topics:
Money and consumer rights > Taxes
Previous

HA 41: Calculating qualifying company election tax, or

“How to work out the tax when your company becomes a qualifying company”

Next

HA 43: Meaning of effective interest, or

“How the law measures your ownership in a company for tax purposes”

Part H Taxation of certain entities
Qualifying companies (QC)

HA 42Paying qualifying company election tax

  1. A company must pay a qualifying company election tax under section HA 40 to the Commissioner no later than the company’s terminal tax date for the tax year corresponding to the income year in which the company chooses to become a qualifying company.

Compare