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Look-through company income/loss distribution 2018 IR7L

Look-through companies (LTCs) aren't assessed for tax, but each owner is liable for tax on their share of income from the LTC. 

The LTC's income, losses and tax credits must be allocated to its owners in proportion to their share in the LTC.

Use this form to show these details for each owner.

To complete this form you'll need:

  • the LTC's name and IRD number
  • the owners' names and IRD numbers
  • details of any income/losses distributed to each owner and their proportion of profits/losses
  • details of non-allowable deductions
  • details of any deductions for extinguished losses
  • details of the overseas tax paid, imputation credits and other tax credits allocated to each owner.

You can also use our Partnership and look-through company (LTC) return guide (IR7G) for help completing this form.

Please print, sign, attach to page 3 of the IR7 return and send it to us. You may wish to keep a copy for your records.

This form has space to record details for four owners only

You can use as many copies of this form as you need.