Trans-Tasman imputation for New Zealand shareholders
Some Australian companies may elect to pass on credit for any New Zealand tax paid to their New Zealand shareholders. You will be able to recognise the credits from the notices you receive with the payment of each dividend. If the company in which you hold shares has elected in, these credits will show on your dividend certificates as 'NZ imputation credits'.
The earliest date from which dividends with New Zealand imputation credits attached can be paid is 1 October 2003.
The tax return guides for the 2004 year will be updated to provide instructions on how to claim these credits in your returns.
Please note - this legislation does not change the current rules regarding 'Australian franking credits'. Shareholders in receipt Australian dividends cannot claim 'franking credits' in their New Zealand tax returns.
Date published: 01 Jan 2005
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