Plain language law

New Zealand law explained for everyone

Tax Administration Act 1994

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

25NB: De minimis filing requirements for certain persons

You could also call this:

"Simpler tax rules for some people"

Illustration for Tax Administration Act 1994

You need to follow some rules when you have to pay tax. This is when you have to pay tax under certain sections of the law, like section RE 21(3) of the Income Tax Act 2007. You can send the information to the Commissioner in electronic form. You do not have to follow these rules if you pay tax under section RE 21(6) and (7) of the Income Tax Act 2007. You can send the information at certain times of the year, like by 20th October or 20th April. You have to send it by these dates for the Commissioner to get the information on time. You can send the information electronically, as long as you follow the rules set by the Commissioner. You have to send it for the right period, like from 1 April to 30 September or from 1 October to 31 March. The Commissioner will use this information to check your tax.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

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=LMS682134.

Topics:
Money and consumer rights > Taxes
Previous

25N: Information from payers with no withholding obligation, or

"Telling the tax office about investment income when you don't take tax out"

Next

25O: Correction of errors in investment income information, or

"Fixing mistakes in investment income for tax purposes"

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

25NBDe minimis filing requirements for certain persons

  1. This section applies when a person is required to withhold an amount of tax under—

  2. section RE 21(3) of the Income Tax Act 2007:
    1. section RF 13(2) of that Act:
      1. section 86KA of the Stamp and Cheque Duties Act 1971.

        1. This section does not apply when a person withholds an amount of tax referred to in section RE 21(6) and (7) of the Income Tax Act 2007.

        2. Despite sections 25E, 25F, and 25H, the person may deliver the investment income information for the payment to the Commissioner—

        3. in electronic form and by means of an electronic communication as prescribed by the Commissioner; and
          1. for the period in the tax year from 1 April to 30 September, by 20th October after the end of the period; and
            1. for the period in the tax year from 1 October to 31 March, by 20th April after the end of the period.

              Notes
              • Section 25NB: inserted, on , by section 190(1) (and see section 190(2) for application) of the Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Act 2022 (2022 No 10).