You can view your investment income in myIR, including from joint accounts.
If you think the amount you’ve been allocated from a joint account is wrong, you can change this allocation when we complete your income tax assessment at the end of the year or when you file your income tax return. You may be asked for documentation to support an unequal allocation of interest between account holders.
Any other owners of the joint account will need to make their own changes separately.
Income from joint investments is split equally among account holders who have provided valid IRD numbers. This also applies to partnerships (excluding limited partnerships). If income is allocated incorrectly because an IRD number is missing, affected account holders should contact the payer to update their IRD number to ensure future allocations are correct.
Access your income tax account in myIR
Select 'view details' in the Earnings summary section
The Earnings summary section is on the righthand side of the page. It displays your income and tax deducted for the time period you choose.
Then choose the income period dates for the period the investment income was earned.
Select 'update investment percentage' under 'I want to'
Select 'view detail' next to your payer
Choose ‘View detail’ next to the payer whose income is incorrect. You’ll see:
- all accounts listed with that payer
- the account identifier, if the payer has given us one
- the ownership percentage (for recent periods only).
Ownership percentage is the portion of income allocated to your IRD number. For example, 100% ownership can mean the income is not from a joint account, or could mean it's from a joint account but the other owner has not provided the payer with a valid IRD number.
Select 'view detail' next to your payer
Choose ‘View detail’ next to the payer whose income is incorrect. You’ll see:
- all accounts listed with that payer
- the account identifier, if the payer has given us one
- the ownership percentage (for recent periods only).
Ownership percentage is the portion of income allocated to your IRD number. For example, 100% ownership can mean the income is not from a joint account, or could mean it's from a joint account but the other owner has not provided the payer with a valid IRD number.
Select 'view detail' next to the account you want to change
You’ll see a table showing the dates the income has been received.
Select 'add ownership period'
Complete the ‘From’ date field and the ownership percentage field. For example, 50% from 1 March 2019.
If you leave the ‘To’ date field blank, the updated ownership percentage will remain indefinitely.
Submit your updated ownership percentage
Log in to myIR
What happens next
Your ownership percentage and income will be updated from the dates you’ve given us, including a past date if needed.
Any other owners of the joint account will not have their ownership percentage updated. They will need to make their own requests separately.