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Tax Administration Act 1994

Information, record-keeping, and returns - Investment income information

25B: Investment income information: outline of provisions

You could also call this:

"Information About Investment Income"

Illustration for Tax Administration Act 1994

You need to know what investment income is. This subpart tells you what information people must give to the Commissioner about investment income. It also tells you who must provide this information and when. You are called a payer if you make a payment of investment income. The person who gets the payment is called the payee. There are rules about what you must do if you are a payer or a payee. If you want to know more about certain topics, you can look at other sections like schedule 6, section 26B, section 26C, section 29, section 31, section 31C, section 57B, or section 139AA. If you are a custodial institution and you pay investment income to someone, you are treated as a payer.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS336602.

Topics:
Money and consumer rights > Taxes
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Part 3Information, record-keeping, and returns
Investment income information

25BInvestment income information: outline of provisions

  1. This subpart sets out the information that a person who makes a payment of investment income is required to provide to the Commissioner and, in particular,—

  2. what is meant for reporting purposes by investment income and investment income information:
    1. who must provide investment income information to the Commissioner:
      1. when investment income information must be provided and how it must be delivered:
        1. when information is required in relation to certain types of investment:
          1. the correction of errors:
            1. when information may be filed in non-electronic form.

              1. In this subpart, and in schedule 6,—

              2. a person who makes a payment of investment income is called the payer:
                1. a person who derives or receives a payment of investment income is called the payee.

                  1. For the provisions related to—

                  2. the use of inconsistent RWT rates, see section 26B:
                    1. RWT withholding certificates, see section 26C:
                      1. shareholder dividend statements, see section 29:
                        1. Maori authority notices, see section 31:
                          1. notification requirements for multi-rate PIEs, see section 31C:
                            1. further requirements for multi-rate PIEs, see section 57B:
                              1. non-electronic filing penalties, see section 139AA.

                                1. For the purposes of subsection (2), a custodial institution that pays on or transfers an amount of investment income to an end investor is treated as a payer.

                                Notes
                                • Section 25B: inserted, on , by section 287 of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).
                                • Section 25B(1) heading: inserted, on , by section 26 of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).
                                • Section 25B(2) heading: inserted, on , by section 26 of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).
                                • Section 25B(3) heading: inserted, on , by section 26 of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).
                                • Section 25B(4) heading: inserted, on , by section 199 of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 (2020 No 5).
                                • Section 25B(4): inserted, on , by section 199 of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 (2020 No 5).