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About this worksheet

Use this worksheet to calculate the amount of attributed repatriation you have derived in respect of an income interest of 10% or greater in a controlled foreign company (CFC).

Adobe Acrobat PDF | 65kb | 2 pages

When to use this worksheet

Complete this form if you are required to by Part C of the previous year's Interest in a foreign disclosure schedule (IR477). Use our booklet Foreign dividend withholding payments (IR273) to help you. Complete a separate form for each attributed repatriation calculation.

Please show all amounts in New Zealand dollars. Attach a separate sheet to the top of this page showing all foreign currency conversions. Note that an attributed repatriation may arise regardless of the country in which the CFC is resident.

New rules have been introduced which remove the requirement for you to pay tax on attributed repatriations. These rules apply from the beginning of the 2010 income year if your balance date is between 30 June to 30 September (inclusive) and from the beginning of your 2011 income year if you have any other balance date.

What you will need

You will need:

• the name and IRD number of the person deriving attributed repatriation
• the name of  the CFC
• the balance date of the CFC
• details of the tangible property, shares and options and outstanding balances, so that the increase in investment can be calculated
• details of shareholder funds and capital, to calculate the unrepatriated income of the CFC
• a copy of our booklet Foreign dividend withholding payments (IR273).

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After you finish

When you have completed this worksheet send it back to us with your IR477 form, by attaching it to your tax return.

If this form is used by a New Zealand resident corporate taxpayer, a foreign dividend payment (FDP) will have to be made for the dividend. Use the (FDP) Foreign dividend payment return (IR4F) to calculate and pay this deduction. If you are a non-corporate taxpayer, include the dividend in your income tax return as overseas income.