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128 Riccarton Road
Christchurch
New Zealand
Ph: (03) 341 2013
Fax (03) 341 2016
0800 650 585 (outside Christchurch)
    


Important LAQC Alert: The Legislation is now Final

These changes will effect you click here to find out more.
 
On 20 December 2010, legislation was enacted to effectively remove the attribution of losses for all LAQCs (Loss Attributing Qualifying Companies), with effect from 1 April 2011.  (The exception being for early balance dates, for which the effects are delayed until the 2012/2013 year.)

Very broadly, clients will have several options available to them.  These are:
  1. Become an LTC (Look Through Company).
  2. Remain as a QC (Qualifying Company), but without the ability to attribute losses to shareholders.
  3. Exit the QC regime and effectively become a standard company.
  4. Restructure the ownership of their business/assets so they are owned by a Partnership, a Limited Partnership or a Sole Trader. 

Next step:

We're undertaking a review of all of our LAQCs.  We expect that review to be completed by 31 March 2011.  Naturally there will be a cost associated with that review.  This will be approximately $300 plus GST depending on the nature of your company.  Once we've completed your review, we will send you our written recommendations.


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Our location - 128 Riccarton Road, PO Box 8535 Riccarton, Christchurch.