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Changes to the myIR login screen are coming You will not be able to use myIR between 1pm Saturday 8 October and 8am Monday 10 October. This is so we can update our external authentication system. From Monday 10 October the myIR login page will have a new look and feel, but the login process will not change.

Cost of Living Payment Eligible customers will have the payment automatically paid into their bank accounts by the end of the day 3 October 2022. The payments will be staggered and Credit Union customers may not receive their payment until 4 October 2022. Cost-of-Living-Payment

Māori authority credits can be attached to distributions paid to members. These attachments work like company imputation credits.

If you choose not to attach credits, members will be taxed on distributions through their personal income liability.

How Māori authority credits work

Attaching credits means payments to members are not taxed twice. Members can claim Māori authority credits against their own income tax liability.

Most Maori authorities need to keep records of how their credits are handled. Details of Māori authority activity and possible credit use are generally kept in a Māori authority credit account (MACA).

Attaching credits to distributions

There are limits on how many credits can be attached to distributions. The maximum credit ratio is 17.5:82.5. This means up to $17.50 can be attached to every $82.50 of dividends.

The maximum ratio makes sure Māori authorities do not pass on more credits than profit tax they have paid.

The first taxable distribution made by Māori authorities are known as benchmark distributions. These set the ratio between credits and dividends for the rest of the tax year. Distributing with more credits than your benchmark ratio will lead to an allocation debt penalty.

The benchmark ratio can be changed by completing a Ratio change declaration - IR407.

Māori authorities

Last updated: 07 Jan 2021
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