Approved issuer

Approved issuers pay interest at a zero rate of non-resident withholding tax (NRWT). Instead of deducting NRWT they pay a levy on the securities they register with us.

The levy is 2% on the interest of each registered security. If the interest paid is tax deductible, approved issuers can claim a deduction of the 2% in their New Zealand income tax return.

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Register for approved issuer levy status and security Register security or securities for approved issuer levy (AIL) or zero-rating.
Backdate approved issuer levy status and security We may backdate your security (loan agreement) registration if you applied late because of an oversight or you made every effort to comply by the 1st interest payment date. We’ll also adjust your registration as an approved issuer if we need to.
Approved issuer levy payment due dates You can file monthly or 6-monthly depending on how much approved issuer levy (AIL) you pay each year.
Pay my approved issuer levy Pay your approved issuer levy (AIL) using the Approved issuer levy form in myIR.
Cancel my approved issuer levy Log on to myIR and let us know if you want to stop paying your approved issuer levy permanently.
Qualifying for zero-rating Some interest payments can qualify for a 0% rate of Approved Issuer Levy (AIL) instead of the standard 2% rate. This exception is limited to certain debt securities that are widely held and issued in New Zealand dollars.

Ngā ture whakaritenga ahumoni (ngā ture FA) Approved issuer

Approved issuer