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From 1 April 2020, the reporting requirements for investment income are changing.  

Payers of investment income

  • Note the due dates for the new reporting requirements and changes.
  • Consider which electronic channel will best suit you.
  • Communicate with your customers about the impact of some of these changes. 

Receivers of investment income

You must provide your IRD number to your investment income payer to:

  • make sure you’re on the right tax rate
  • avoid the non-declaration rate.

When your income investment payer has adopted the new reporting, we will split any investment income reported for an account equally across all the joint account holders who have provided their IRD numbers to their income investment payer. You can change this allocation in myIR or on your income tax return.

From 1 April 2020, if you have an RWT exemption certificate, you will not need to show it to your payer - your IRD number will be included on the new electronic RWT exempt status register.

You can get information on all your investment income in myIR.