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Ngā whakaritenga pūrongo mā ngā rōpū kaitiaki wāhanga e utu moni hua ana New reporting requirements for unit trusts paying dividends

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The reporting requirements for investment income are changing. Payers of investment income can keep using the existing rules until 1 April 2020. All businesses and organisations will need to follow the new rules from that date.

Businesses and organisations that are registering for the first time may want to follow the new rules immediately to save having to change systems and processes on 1 April 2020.

You will need to register as a payer of resident withholding tax through myIR. Once you are registered you will need to elect into the new investment income regime.

This page describes the new requirements.

Information requirements

If you are a unit trust paying dividends, you need to send us the following at the end of the year:

  • the unit trust’s name, IRD number and contact address
  • the total amount of dividends paid
  • the total amount of tax withheld
  • the total amount of imputation credits provided
  • the imputation ratio.

The following information is required for each of the income recipients who received dividends:

  • their name
  • their contact details (email, street address or mobile phone number)
  • the amount and type of income paid to them
  • the tax withheld from it.

If it is available, you need to provide the following information for each of the income recipients who received dividends:

  • their IRD number
  • their date of birth
  • the tax rate they have provided.

You must provide the name of any joint owners. If held, you also need to provide the following information for any joint owners:

  • their IRD number
  • their date of birth
  • their contact address.

You will need to report this electronically unless you have an exemption.

The information is due by the 15th of May each year.