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Ngā whakaritenga pūrongo whiwhinga moni haumitanga o nāianei Existing investment income reporting requirements

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New investment income reporting requirements will become compulsory on 1 April 2020. Until then you can opt in to the new requirements, or keep following the existing requirements.

This page describes the existing requirements.

When to pay your resident withholding tax on interest

If you estimate you'll deduct resident withholding tax (RWT) of $500 or more each month you must pay once per month. The deductions made in each month are due by the 20th of the following month. We will send you a pre-printed RWT on interest (IR15P) form.

If you estimate you'll deduct RWT of less than $500 each month you can pay once every 6 months. We'll send you a pre-printed IR15P for the periods:

  • 1 April to 30 September (payment due 20 October)
  • 1 October to 31 March (payment due 20 April).

If you pay every 6 months and deduct a total of more than $500 of RWT before your next return is due, you'll need to file another IR15P to account for those deductions. The next return period will then cover from the start of the month in which the extra payment was due to be paid until the end of the next normal return period. These two returns will cover the full six months between them.

If the amount of RWT you pay changes and this means you will need to pay more or less frequently, contact us. We'll send you the IR15P forms to suit your new payment due dates.

If the due date falls on a weekend or a statutory or public holiday, the due date becomes the next working day.

When to pay your RWT on dividends

Once you've deducted RWT from dividends, you need to send your return and payment to us by the 20th of the month following the deduction.

To make a payment use either:

  • an RWT dividends treated as interest/Māori authority distributions IR17P form, for RWT on specified dividends
  • an RWT on dividends return (IR4K) form, for RWT on all other dividends.

If you're an agent or trustee making payments of RWT on dividends you need to use an IR17P for RWT on specified dividends.

If the due date falls on a weekend or a statutory or public holiday, the due date becomes the next working day.

If you don't have any RWT to pay

You must return each pre-printed IR15P form even if you have no RWT to pay for the period. You'll need to:

  • write ‘nil’ on the form
  • sign it
  • return it to us by the payment due date.

If you make a mistake when deducting your RWT

If you make either an underpayment or an overpayment when you deduct RWT, contact us so we can correct it.