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The NZ$50,000 threshold

The threshold is intended to reduce compliance costs for investors with relatively small amounts invested offshore.

If ... and the ... then ...







you are a resident natural person or a trustee of an eligible trust with an attributing interest in a FIF

 
  • total amount of the interest does not exceed the NZ$50,000 threshold at any time during the income year, and
  • interest is held on capital account

you will continue to pay tax only on dividends received and not be required to calculate income under the new FIF rules.


$50,000 threshold is exceeded at any time in an income year

all your offshore interests fall within the FIF rules - the first NZ$50,000 is not exempt.

 


Date published: 25 Aug 2008

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