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Tax Administration Act 1994

Information, record-keeping, and returns - Returns - Fringe benefits

56B: Certain information required in returns

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"What info companies must give when they pay dividends"

Illustration for Tax Administration Act 1994

When a company pays a dividend, it must give the Commissioner some information. This is for the purposes of section RE 24 of the Income Tax Act 2007. You need to know what information to provide. You must provide information about the tax amount in your annual ICA return under section 69. You also need to provide information about the dividend. This can be in your dividend statement under section 25G if you are an ICA company. If you are not an ICA company, you must provide the information in a form approved by the Commissioner. This form must contain the information set out in section 67(a) to (c) and (f). You must file this form no later than 31 May after the end of the tax year. If you are a Maori authority, you must provide information about the tax amount in your annual Maori authority credit account return. You also need to provide information about the distribution in the distribution statement prepared under section 25I.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1253927.

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Part 3Information, record-keeping, and returns
Returns: Fringe benefits

56BCertain information required in returns

  1. This section applies for the purposes of section RE 24 of the Income Tax Act 2007 when an amount of tax for a taxable Maori authority distribution is treated as a Maori authority credit attached to the distribution.

  2. The company paying the dividend and withholding the amount of tax under section RA 6(1) of that Act must provide to the Commissioner information in relation to the amount of tax in its annual ICA return under section 69.

  3. For the purposes of subsection (2) and the payment of the dividend, the company must provide to the Commissioner information in relation to the dividend in—

  4. its dividend statement under section 25G if it is an ICA company; or
    1. if paragraph (a) does not apply, a form approved by the Commissioner, containing the information set out in section 67(a) to (c) and (f) and filed no later than 31 May after the end of the tax year.

      1. The Maori authority making the distribution and withholding the amount of tax under section RA 6(1) of the Income Tax Act 2007 must provide to the Commissioner information in relation to the amount of tax in its annual Maori authority credit account return.

      2. For the purposes of subsection (4) and the making of the distribution, the Maori authority must provide to the Commissioner information in relation to the distribution in the distribution statement prepared under section 25I.

      Compare
      Notes
      • Section 56B: inserted, as section 24K, on (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).
      • Section 56B: renumbered, on , by section 281(1) of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).
      • Section 56B(1): replaced, on , by section 306(1) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
      • Section 56B(2): replaced, on , by section 306(2) of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).
      • Section 56B(3)(a): amended, on , by section 281(2)(a) of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).
      • Section 56B(5): amended, on , by section 281(2)(b) of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).