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LQ 1: Tax credits of CTR companies
or “Tax credits for certain companies no longer apply”
You could also call this:

“Tax credit under section LQ 2 no longer available”

You can no longer get a tax credit under section LQ 2 of the Income Tax Act 2007. This section, which used to be about limiting the amount of credit, was removed from the law on 30 June 2009. The government made this change as part of a bigger update to tax rules about international matters, life insurance, and some other things.

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Next up: LQ 3: Determining percentage of non-resident shareholders

or “This section about calculating non-resident shareholder percentages is no longer in effect”
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Part L Tax credits and other credits
Tax credits of conduit tax relief companies

LQ 2Limitation on amount of credit (Repealed)

    Notes
    • Section LQ 2: repealed (with effect on 30 June 2009), on , by section 346(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).