The countdown’s begun – LAQCs & LTCs

Change your LAQC to an LTCThe countdown’s begun and we don’t mean to that Rugby thing.  You need to apply before 30 September 2011 if you want your loss attributing qualifying company to become an Look-through company.

If you don’t apply then the company will remain as a QC (Qualifying Company) but without the ability to attribute losses to shareholders. Alternatively, you may want to exit the QC regime and become a standard company or restructure the ownership of their business/assets so they are owned by a Partnership, a Limited Partnership or a Sole Trader.

Chat to one of the friendly team at Boutique Financial www.boutiquefinancial.co.nz if you’d like help with your LTC election or to discover the most profitable option for you.  You might also find some incredibly helpful (and free, yes free!) advice in our other LTC blog posts: http://www.boutiquefinancial.co.nz/wordpress/2011/10/look-through-company-traps/