Supplement to qualifying company election tax (QCET) form IR438
(published August 2008)
About this worksheet
Qualifying company election tax (QCET) is an entry tax to the qualifying company system based on the amount that would represent an unimputed dividend to the shareholders if the company was liquidated immediately before it became a qualifying company.
Adobe Acrobat PDF | 93kb | 2 pages
When to use this worksheet
This worksheet has been developed to simplify calculating QCET. It is a plain English interpretation of the QCET formula. It is a guide only and it is important to refer to the QCET formula in the Qualifying companies guide (IR435) or in the legislation to ensure accuracy.
What you will need
The standard QCET formula can be found on page 31 of the Qualifying companies guide (IR435).
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After you finish
- Print off the form
- Enter the result from Box 7C (the QCET that is payable) into your Qualifying company election tax (IR4P) return
- Keep this calculation in your records.
