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Tax Administration Act 1994

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

25E: Who must provide investment income information to Commissioner

You could also call this:

"Who needs to tell the Commissioner about investment income?"

Illustration for Tax Administration Act 1994

You must give the Commissioner your investment income information by a certain date. This applies to you if you withhold tax from interest payments, see section 25F. It also applies if you pay a taxable dividend to someone. You must provide investment income information if you pay a royalty to someone who does not live in New Zealand, see section 25H. This rule also applies to a Maori authority that makes a taxable distribution to a member. You can find more information about this in section RE 9 of the Income Tax Act 2007. If you pay investment income to a custodial institution, you must treat the institution as the person getting the payment, see section 25MB. There are some exceptions to this rule, which are explained in subsection (2). You can find more information about these exceptions in section RE 10 of the Income Tax Act 2007.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS336628.

Topics:
Money and consumer rights > Taxes
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25D: Investment income information, or

"Information about investment income that must be given to the government"

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25F: Information on interest, or

"Telling the Commissioner about interest payments"

Part 3Information, record-keeping, and returns
Investment income information

25EWho must provide investment income information to Commissioner

  1. The persons who must provide their investment income information to the Commissioner by the relevant date set out in this subpart are—

  2. a person who is required to withhold an amount of tax for a payment of interest, see section 25F:
    1. a person who chooses under section 32M to pay approved issuer levy in relation to a debt, other than a debt in relation to which the interest payments are administered by an offshore paying agent:
      1. a company that pays a taxable dividend to a person, including a dividend described in section RE 9 of the Income Tax Act 2007, see section 25G:
        1. a person who pays a royalty to a non-resident person, see section 25H:
          1. a Maori authority that makes a taxable distribution to a member of the authority, other than a retirement scheme contribution, see section 25I:
            1. a multi-rate PIE that attributes income to an investor or a proxy for an investor, see section 25J:
                1. a public unit trust that pays an amount that is treated as a taxable dividend on a withdrawal from the trust, see section 25L:
                  1. an emigrating company that is treated under section FL 2 or FL 3 of the Income Tax Act 2007 as paying a dividend to shareholders, see section 25M:
                    1. a custodial institution that pays on or transfers an amount of investment income to an end investor, see section 25MB:
                      1. a person who would be liable to pay an amount referred to in paragraph (a) but for the circumstances described in subsection (2).

                        1. The circumstances referred to in subsection (1)(j) are that a person who pays interest for which RWT is not required to be withheld because—

                        2. the amount—
                          1. is not paid by the person in the course or furtherance of a taxable activity; or
                            1. is an amount to which section RE 10 of the Income Tax Act 2007 applies; and
                            2. the amount is allowed as a deduction under that Act; and
                              1. the amount is paid to a person other than a person with RWT-exempt status.

                                1. If a person who has an obligation under this section to provide investment income information to the Commissioner makes a payment to a custodial institution referred to in subsection (1)(ib), whether or not the institution pays on or transfers the amount to an end investor, the person must, for the purposes of this subpart, treat the institution as a payee.

                                Notes
                                • Section 25E: 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 25E(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 25E(1)(f): amended (with effect on 1 April 2020), on , by section 154(1) of the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Act 2021 (2021 No 8).
                                • Section 25E(1)(g): repealed (with effect on 1 April 2020), on , by section 154(2) of the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Act 2021 (2021 No 8).
                                • Section 25E(1)(i): amended (with effect on 30 August 2022), on , by section 170 of the Taxation (Annual Rates for 2022–23, Platform Economy, and Remedial Matters) Act 2023 (2023 No 5).
                                • Section 25E(1)(ib): inserted, on , by section 200(1) of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 (2020 No 5).
                                • Section 25E(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 25E(3): inserted, on , by section 200(2) of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 (2020 No 5).