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NRWT (Non-resident withholding tax)
Te take tangohanga mo nga tangata no tawahi
Approved issuer levy: Return and payment due dates

Return and payment due dates

AIL must be paid to us with a completed Approved issuer levy (IR67A) form. How often you have to send it in depends on your annual AIL liability.

Monthly due dates

If you pay AIL of $500 or more each year or would if AIL was not zero rated, payment and return is due on the 20th of the month following the month in which the interest was paid.

Six-monthly due dates

If you pay AIL of less than $500 each year or would have if AIL was not zero rated, you can choose to pay and file the return on a six-monthly basis, either:

  • at the time of registration, or
  • by contacting our Non-resident Centre.

We'll send you returns for the following periods:

  • 1 April to 30 September - due for payment on 20 October
  • 1 October to 31 March - due for payment on 20 April.
Note  
If the due date falls on a weekend or a New Zealand public holiday, the due date is the next working day.

Example - Six-monthly payer

Luca's Investments Ltd pays less than $500 AIL each year, so may pay the deductions to us by the two regular six-monthly payment dates.

Month interest paid Total AIL to pay Total paid to us Due date for payment and IR 67A
June 2006 $50 Nil -
August 2006 $50 Nil -
September 2006 $100 $200 20 October 2006 (regular six-monthly payment date)
November 2006 $100 Nil -
February 2007 $100 $200 20 April 2007 (regular six-monthly payment date)

What if you then pay over $500 AIL in a year?

If your AIL payment accumulates to $500 during the year, you must:

  • send a completed return and a payment by the 20th of the month after AIL reaches $500
  • pay monthly for the rest of that year
  • contact our Non-resident Centre to request monthly forms.

Example - Six-monthly payer with accumulated AIL over $500

Nala's Investments Ltd estimated its annual AIL liability for the 2007 income year to be less than $500. However, in December 2006 it reached the $500 threshold.

Nala's Investments Ltd must pay the AIL to us on the 20th of the month which follows the month when the accumulated AIL reached $500. Nala's Investments Ltd must also pay monthly for the rest of the 2007 income year.

Month interest paid Total AIL to pay Total paid to us Due date for payment and IR 67A
June 2006 $50 Nil -
August 2006 $50 Nil -
September 2006 $100 $200 20 October 2006 (regular six-monthly payment date)
December 2006 $300 $300 22 January 2007 (see "Note" above)
January 2007 Nil Nil 20 February 2007 (Nil IR 67A required)
February 2007 Nil Nil 20 March 2007 (Nil IR 67A required)
March 2007 $50 $50 20 April 2007

Late filing or payment

Where AIL is not paid on the due date, interest and late payment penalties will apply.

These are the same as the interest and late payment penalties that apply to late payment of income tax.

Where a return is filed late the zero rate for interest on certain bonds is not available. The full 2% levy rate is payable by the due date for that period.

If you know you will not be able to file the return in time please contact us

 


Date published: 30 May 2012

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