There are types of income that are not included in your income tax assessment or IR3, but which are counted in working out your Working for Families entitlements and student loan repayments.
When you tell us about these other income types, we either include them or leave them out of your Working for Families and student loan assessments. This is called adjusting your income.
Income you need to tell us about
- Salary exchanged for private use of a work vehicle
- Vouchers and other short-term charge facilities
- Non-locked-in portfolio investment entity (PIE) income
- Certain pensions and annuities
- Distributions from retirement savings schemes
- Distributions from superannuation schemes
- Tax-exempt overseas pensions
- Tax-exempt salary and wages
- Other payments (Working for Families only)
- Children's passive income (Working for Families only)
- Your non-resident spouse or partner's income (Working for Families only)
- Distributions from a trust that is not beneficiary income.
Specific income types
You also need to tell us about income types and adjustments that can apply to specific people or activities such as self-employment, investment, rental or if you are a settlor of a trust:
- Attributable trustee income
- Attributable fringe benefits
- Major shareholder in a close company
- Main income equalisation scheme deposits.
Learn more about these different types of income.
Income that you do not need to tell us about
You do not need to include the following income types and adjustments if you've already included them in your income tax assessment or IR3 return.
- Retirement scheme contributions
- Main income equalisation scheme refunds
- Depreciation recovered on sale of a building.
You may need to make an adjustment for PIE income from a retirement savings or superannuation scheme.
If you get Working for Families
If you receive Working for Families, both you and your partner need to tell us about your income types and adjustments.
If you're paid weekly or fortnightly
Call us on 0800 227 773 and tell us about any other income and adjustments so we can make sure you're paid the correct amount.
If you're paid in a lump sum at the end of the tax year
If you get an automatic income tax assessment, you can tell us about your other income types and adjustments once you receive it. You can do this online in myIR or by calling us.
If you file an individual income tax return - IR3, then complete an Adjust your income form before you file it.
If a tax agent or accountant helps you prepare your income tax returns, make sure you tell them they will need to complete an Adjust your income - IR215 form for you.
If you have a student loan
If you receive income that does not have automatic student loan deductions, you may want to make voluntary repayments or set aside money for an end of year repayment.
If you make interim payments you may need to re-estimate your income. You need to include the new income types and adjustments when making the estimate of your income. This will help you avoid a student loan bill.
If you're a non-resident student loan borrower who is being treated as present in New Zealand for student loan purposes, you’ll need to declare your total income from all sources including any income and adjustments that apply to you, as if you were a New Zealand resident.