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Tax Administration Act 1994

Information, record-keeping, and returns - Investment income information - RWT rates, certificates, and records

28: Recipient of resident passive income to provide tax file number when RWT not withheld

You could also call this:

"Give your tax file number if you get interest and no tax is taken out"

Illustration for Tax Administration Act 1994

You get a payment of resident passive income, which is interest. You must give your tax file number to the payer within 10 working days. This is if you get a notice from the payer and no RWT is withheld because the payment was not made in the course of a taxable activity or section RE 10 of the Income Tax Act 2007 applies.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM350767.

Topics:
Money and consumer rights > Taxes
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27: Provision of tax file numbers, or

"Give your tax number to people who pay you money if they ask for it"

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28B: Notification of investors’ tax file numbers, or

"Tell your tax number to investment schemes"

Part 3Information, record-keeping, and returns
Investment income information: RWT rates, certificates, and records

28Recipient of resident passive income to provide tax file number when RWT not withheld

  1. A person who receives a payment of resident passive income, that is interest, must provide their tax file number to the payer within 10 working days of receiving a notice from the payer, if no requirement to withhold RWT arises because—

  2. the payment was not made by the payer in the course of, or furtherance of, a taxable activity:
    1. section RE 10 of the Income Tax Act 2007 applies.

      Notes
      • Section 28: replaced, 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 28: amended, on , by section 96(1) of the Taxation (Transformation: First Phase Simplification and Other Measures) Act 2016 (2016 No 27).
      • Section 28: amended, on , by section 96(2) of the Taxation (Transformation: First Phase Simplification and Other Measures) Act 2016 (2016 No 27).