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Tax Administration Act 1994

Information, record-keeping, and returns - Statements, notices, and certificates - Resident passive income

32H: RWT-exempt status when persons meet requirements

You could also call this:

"Getting exempt from paying withholding tax when you meet the rules"

Illustration for Tax Administration Act 1994

You can get RWT-exempt status if you meet the requirements of section 32E. The Commissioner will put your tax file number and the start and end dates on a public register. They will also tell you when your status starts and ends. You get RWT-exempt status on the start date on the register. If you have a current RWT exemption certificate and your details are on the register, you are treated as having RWT-exempt status. This is for investment income information purposes. The Commissioner must follow these steps when you apply for RWT-exempt status and meet the requirements.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1258124.

Topics:
Money and consumer rights > Taxes
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32G: Evidence of annual gross income and consequences of failure to meet threshold, or

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32I: Providing RWT-exempt status to person who does not meet requirements, or

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Part 3Information, record-keeping, and returns
Statements, notices, and certificates: Resident passive income

32HRWT-exempt status when persons meet requirements

  1. When a person who meets the requirements of section 32E applies to the Commissioner for RWT-exempt status, the Commissioner must—

  2. publish the person’s tax file number and the start date and, if applicable, the end date on the electronic register of persons with RWT-exempt status; and
    1. notify the person of the issue of the status, and the start and end date, as applicable.

      1. A person’s RWT-exempt status takes effect on the start date provided in the electronic register.

      2. For the purposes of the provisions relating to investment income information, if a person has been issued with, or holds, or retains, or is allowed to retain, an RWT exemption certificate that remains current, they are treated as having RWT-exempt status if their details appear on the electronic register referred to in subsection (1).

      Notes
      • Section 32H: replaced, on , by section 295 of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).