Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012

78 Look-through companies are transparent
  • After section HB 1(5), the following is added:

    Elections and methods
    • (6) Inland Revenue Act elections and methods relating to an LTC are chosen by the company ignoring subsection (4), and then subsection (4) applies so that the elections and methods are those of an owner of an effective look-through interest for the look-through company.