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LQ 2: Limitation on amount of credit
or “Tax credit under section LQ 2 no longer available”
You could also call this:

“This section about calculating non-resident shareholder percentages is no longer in effect”

This part of the law used to explain how to figure out the percentage of shareholders who are not from New Zealand. However, it’s no longer in use. The government removed this section on 6 October 2009, but it actually stopped being used on 30 June 2009. This change was part of a bigger law about taxes, especially for things happening outside New Zealand, life insurance, and fixing some other tax issues.

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Next up: LQ 4: Date for determining percentage of non-resident shareholders

or “When to check non-resident shareholder numbers for tax credits (no longer applies)”
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Part L Tax credits and other credits
Tax credits of conduit tax relief companies

LQ 3Determining percentage of non-resident shareholders (Repealed)

    Notes
    • Section LQ 3: repealed (with effect on 30 June 2009), on , by section 346(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).