Originally Posted by
Robomo
I spoke with one of ASB's advisors about the withholding tax for overseas dividends. He said it is a Govt directive and it is deducted at the Australian end and then presumably remitted back to NZ. My Accountant says that the Accounting Society have been trying for some years to get the Govt to recognise the franking on Australian dividends. They have been unsuccessful, I guess the govt are quite happy to get extra tax, even though this is double taxation for anyone getting Australian dividends. If CGT had been imposed then this would be a triple tax!