Originally Posted by
Bjauck
That is the conclusion from reading the Report. Are you assuming that only shareholders who are NZ residents get imputation credits attached to their dividends?
The report actually states:
"2021 final dividend (fully franked for Australian tax, New Zealand imputation credit NZD 8 cents per share)"
There is no mention of shareholders being treated differently according to residence. The assumption is that all shareholders are treated equally.
The report states Later under the franking Account Information
"New Zealand imputation credits available (which can be attached to our Australian dividends but may only be used by New Zealand resident shareholders)"
Unfortunately my conclusion is that NZ residents who buy shares in ANZ (an Australian company), whether the NZX listed ANZ shares or the ASX listed ANZ shares, cannot choose to limit their investment to only the NZ division of ANZ. Consequently the distribution of the imputation credit for NZ tax paid has to be shared with all the other shareholders, even though the shareholders who are not resident in NZ cannot make use of their imputation credits.
If you think my conclusion is incorrect please refer to regulations or ANZ statements that indicate that.