Income tax Dates
FEB 7End-of-year income tax and Working for Families bills are due, unless you have an extension of time to file your income tax return.
FEB 28Provisional tax payments are due if you have a March balance date and use the ratio option.
MAR 31Income tax returns are due if you have an extension of time
Companies can attach up to 28 cents of imputation credit to each $1 of gross dividend they pay their shareholders.
This is called the maximum imputation ratio. It makes sure that the imputation credits attached to a dividend are not higher than the tax the company paid on the profits the dividend came from.
The maximum imputation ratio is written using the format ‘28:72’. This shows that 28 cents of credit are attached to each 72 cents of profit.
This is the same as attaching 38.89 cents of imputation credit to each $1 share of net profit after tax.
For more information, check out our Imputation guide for New Zealand companies - IR274.