Section HA 6 — Income Tax Act 2007: Corporate requirements

HA 6 Corporate requirements Requirements (1) A qualifying company must, in an income year,— (a) have 5 or fewer shareholders who meet the requirements of section HA 7 ; or (b) be a flat-owning company. Exclusions (2) A company is not eligible to be a qualifying company if, at any time in an income year, it is— (a) a company that is not resident in New Zealand; or (b) a company that is resident in New Zealand but is treated under and for the purposes of a double tax agreement, as not resident in New Zealand; or (c) no longer a qualifying company under section HA 11B(1) because its status as an LAQC has ended. Defined in this Act: company , double tax agreement , flat-owning company , income year , LAQC, qualifying company , resident in New Zealand , shareholder , Compare: 2004 No 35 ss HG 1(a), (b) , OB 1 “ foreign company ” , OB 3(1)(a), (b), (g) Section HA 6(2)(c): amended (with effect on 1 April 2008), on 7 September 2010 (applying for the 2008–09 and later income years), by section 58(1) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).