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Delays to response times: It is taking longer than usual for us to answer calls and myIR messages. This is because of the demand for COVID-19 business support, and the impact COVID-19 is having on our teams. We appreciate your patience and will respond as soon as we can. If possible, please contact us through your myIR account. Log in to myIR

COVID-19 Support Payment (CSP): Applications for the CSP are now closed. Due to the large number of applications for the CSP, there may be a delay in approving some applications. Find out more about the CSP

Budget 2022: The Government has announced Budget 2022, which includes changes to child support payments. Find out more on our Tax Policy website

Budget 2022: The Government has announced a Cost of Living Payment, which will be paid from 1 August 2022. You do not need to apply for this payment. If you are eligible, we’ll pay it into your bank account. Find out more

To become, and remain, a look-through company (LTC), a company must meet the following criteria for the whole of each income year:

  • It must be a company but cannot be a flat owning company.
  • It must be a New Zealand tax resident and not treated as a non resident under any double tax agreement.
  • Its owners must have only look-through interests.
  • It must have 5 or fewer look-through counted owners, who must be either natural persons or trustees (including corporate trustees). Related shareholders can be counted as a single owner. An ordinary company cannot hold shares in a look-through company, but a look-through company can hold shares in another look-through company.
  • None of its owners can be tax charities or a Māori authorities, unless the tax charity or Māori authority are grandparented.
  • If foreign owners own more than 50% of the interests in the look-through company,  the look-through company must not earn more than $10,000 or 20% of its gross income for the year from overseas (whichever is greater).

If a look-through company does not meet these criteria it automatically stops being a look-through company.

To find out more about who can become a look-through company, check out our guide.

Last updated: 07 Jan 2021
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