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This form is for recording LTC owner(s) income/loss distribution details and is attached to the LTC’s IR7 return on completion.
PDF | 179kb | 2 pages
This form can be completed on-screen by typing content directly into the PDF document. Once you have completed the form it is important that you print it out as you will not be able to save the information you enter into the form.
The LTC's income, losses and tax credits must be allocated to its owners in proportion to their share in the LTC. Use the IR7L form to show these details for each owner and attach it to page 3 of the LTC's Income tax return: Partnership and look-through companies (LTCs) 2016 (IR7).
The IR7L has space to record four owners' details only. You can use as many extra copies of the IR7L as you need. Remember to print them out.
LTC's are not assessed for tax, but each owner is liable for tax on their share of income from the LTC. Each owner must file an income tax return showing all their income, including their share from the LTC.
Please print, sign and attach all IR7L forms to page 3 of the Income tax return: Partnership and look-through companies (LTCs) 2016 (IR7) and post to:
PO Box 39090
Wellington Mail Centre
Lower Hutt 5045