Section IC 7 — Income Tax Act 2007: Residence of company A

IC 7 Residence of company A Incorporation or carrying on business (1) Company A, for the commonality period, must be either— (a) incorporated in New Zealand; or (b) carrying on a business in New Zealand through a fixed establishment in New Zealand. Residence in New Zealand (2) In addition to meeting the requirements of subsection (1), company A, for the commonality period, must not be a company resident in New Zealand that is— (a) treated under a double tax agreement, and for the purposes of the agreement, as not resident in New Zealand; or (b) liable by the law of another country or territory to income tax in that country or territory through domicile, residence, or place of incorporation. Relationship with section IZ 7 (3) Section IZ 7(4) (Grouping tax losses for tax years before 1981–82 and between 1981–82 and 1991–92) overrides this section. Defined in this Act: business , commonality period , company , double tax agreement , fixed establishment , income tax , New Zealand , resident in New Zealand , Compare: 2004 No 35 s IG 2(2)(d), (11)