Section HA 34 — Income Tax Act 2007: Period of grace following death of shareholder

HA 34 Period of grace following death of shareholder 12-month period (1) Despite section HA 33(1)(a) , a company’s status as a qualifying company does not end because a shareholder or another person has died if, within 12 months of the death of the person, the company meets the requirements of sections HA 5 to HA 9 . Extension of time (2) The Commissioner may extend the 12-month period referred to in subsection (1) on the application of the company, the personal representative of the deceased person, or a person who is entitled as a shareholder to make an election under section HA 5 . Defined in this Act: Commissioner , company , qualifying company , shareholder , Compare: 2004 No 35 s HG 6(1)