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Election to form a consolidated group (IR494)

(published April 2019)

Use this form when a number of companies form a consolidated group for tax purposes. All companies forming the group must complete the form. If there are more than three companies, complete another election notice and attach it to this one.

All companies forming the group must be 100% commonly owned. and each company must also be an eligible company, that is:

  • resident in New Zealand, and
  • not treated as a non-resident under a double tax agreement, and
  • not exempt from income tax, and
  • not a loss attributing qualifying company under the qualifying company rules, and
  • not a look-through company (LTC).

All companies within a consolidated group must have the same tax balance date and will be jointly and severally liable for all tax once consolidated.

Each company involved will need to provide:

  • an IRD number
  • a current ICA balance
  • losses available to carry forward.