Income tax Dates
FEB 7End-of-year income tax and Working for Families bills are due, unless you have an extension of time to file your income tax return.
FEB 28Provisional tax payments are due if you have a March balance date and use the ratio option.
MAR 31Income tax returns are due if you have an extension of time
Companies can stop being a qualifying company by choice or automatically.
Stopping by choice
A company can stop being a qualifying company by filling out a Revocation of qualifying company election - IR437 form.
This choice can be made by either:
- a board of directors
- any one shareholder who previously chose for the company to be a qualifying company.
When a company stops meeting one of the qualifying company requirements, it automatically stops being a qualifying company from the start of the income year that the event occurred in.
Companies may also lose their qualifying company status when they do not file a valid re-election form by the due date.
If a company stops being a qualifying company because of a shareholding change and still meets the criteria to re-elect, they should file the re-election form as soon as possible. The company or a tax agent should tell us about what happened to stop the company from being eligible.
If a qualifying company has a change in control - meaning the shareholders' voting interests change by more than 50% in a year - it stops being a qualifying company. Control is measured using a shareholder continuity test. The qualifying company's shareholders must maintain minimum voting interests.
Companies that do not meet qualifying company requirements for a whole year will not be able to become a qualifying company again.
Liquidating or winding up a qualifying company
If a qualifying company is removed from the Companies register it's technically no longer a company or a qualifying company. However, if the company is later restored to the Companies register and it still meets the eligibility requirements, it will still be considered a qualifying company too.
For more information check out our Qualifying companies guide - IR435.