If you have foreign investment fund (FIF) interests, you may need to make a FIF disclosure.
Reporting overseas income details
If you are an individual with overseas income, including FIF income, you must report details of that income when you file your income tax return.
Individuals with overseas income must file an Overseas income summary – IR1261. You need to do this even if you do not need to make a FIF disclosure.
Find out about reporting overseas income.
Reporting your overseas income
When you must make a FIF disclosure
If you have an attributing interest in a FIF, you must complete a FIF disclosure, giving us information about that investment, unless a disclosure exemption applies.
International tax disclosure exemption
Each year we issue an annual International tax disclosure exemption that removes the requirement for many investors and investments to make a disclosure.
Examples where an exemption may apply.
- The $50,000 FIF de minimis exemption applies.
- You are an individual and hold certain attributing interests in FIFs that are direct income interests of less than 10%, the FIF is incorporated or tax resident in a country with a double tax agreement with New Zealand, the FDR or CV method is used, and the annual exemption conditions are met.
- You are a non-resident or transitional resident, and the annual exemption conditions are met.
Whether you need to make a FIF disclosure depends on your circumstances.
Read more about disclosure exemptions on our Tax Technical website.
International tax disclosure exemption (Tax Technical)
If an exemption does not apply
If an exemption does not apply, you must make a FIF disclosure and provide information about your FIF interests, including:
- the name of the investment
- the country of incorporation or tax residence
- the market value in New Zealand dollars at the beginning or end of your income year.