Income tax Dates
MAR 31Final date for ratio option provisional tax applications.
APR 7End-of-year income tax and Working for Families bills are due if you have an extension of time to file your income tax return.
MAY 7Provisional tax payments are due if you have a March balance date and use the standard, estimation or ratio options.
Companies can attach up to 28 cents of imputation credit to each $1 of gross dividend they pay their shareholders.
This is called the maximum imputation ratio. It makes sure that the imputation credits attached to a dividend are not higher than the tax the company paid on the profits the dividend came from.
The maximum imputation ratio is written using the format ‘28:72’. This shows that 28 cents of credit are attached to each 72 cents of profit.
This is the same as attaching 38.89 cents of imputation credit to each $1 share of net profit after tax.
For more information, check out our Imputation guide for New Zealand companies - IR274.