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.
If you're an overseas investor, you can be a non-resident investor or a notified foreign investor (NFI).
Portfolio investment entity (PIE) income is taxed differently depending on your situation.
Prescribed investor rates (PIRs) for non residents
If you're a non-resident (individual or entity) and you are not a notified foreign investor, then your prescribed investor rate is 28%. You cannot choose a lower rate.
If you're a transitional resident and you invest in a zero rate portfolio investment entity (PIE), then you can use a 0% prescribed investor rate.
If you tell your multi-rate PIE (MRP) that you've either become a notified foreign investor or stopped being one during a year, then there are a number of potential scenarios the PIE needs to consider. Refer to Portfolio investment entity - a guide for PIEs - IR860 under 'investor changes residence'.
Multi-rate PIE income and your tax return
Your multi-rate PIE income must be included in your tax return if you have:
- used a prescribed investor rate that's too low
- been taxed at 0% (zero rated) because you exited a multi-rate PIE during a quarter
- chosen not to include your worldwide income as a new tax resident.
Dividends or distributions from a multi-rate PIE are excluded income. They are not included in your end of year tax return.
If you exit a multi-rate PIE filing quarterly, any remaining interest will be paid to us instead. We'll be paid the interest within a month after the end of the quarter that you exited in. You'll be entitled to a tax credit equal to the interest we were paid.
Notified foreign investors
If you're a non-resident who holds an investment in a foreign investment PIE, you can notify the PIE you want to be a notified foreign investor.
You must not be:
- resident in New Zealand
- a controlled foreign company
- a non resident trustee of a New Zealand trust
- a foreign investment fund with a New Zealand resident who has income interest of 10% or more.
You'll need to provide your date of birth, home country address and your IRD number equivalent.
If you're a notified foreign investor, then your foreign PIE will choose your prescribed investor rate.