IR3 filing.

I have been asked to sent them the dividend certificates to confirm the numbers. I have double checked the numbers they are correct. I collate the numbers on the certificates into my spreadsheet.

1. Which date do you use - payment date or record date? At least once it said record date late March but payment payment was 01 April 2016. I used the payment date.

2. What is total dividend? Is this dividend declared - this was what I used. I didn't use gross taxable dividend.



Cheers.

It is date paid. And you do use gross taxable dividend. This will be the reason you have been asked.

You don't put your net pay received as the taxable amount do you?


So your gross taxable dividend less Imputation credit less withholding tax should equal your net dividend. If you are on 33c/$ then there is no tax to pay. If on a lesser rate then you will get a refund of some of the tax.

Quote:

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Originally Posted by rayonline

I have been asked to sent them the dividend certificates to confirm the numbers. I have double checked the numbers they are correct. I collate the numbers on the certificates into my spreadsheet.

1. Which date do you use - payment date or record date? At least once it said record date late March but payment payment was 01 April 2016. I used the payment date.

2. What is total dividend? Is this dividend declared - this was what I used. I didn't use gross taxable dividend.



Cheers.

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Strange they even asked, I've never sent in dividend certificates to confirm numbers, and the numbers have been substantial over the last few years. Even my wife's I just give the numbers over the phone to finalise her personal tax summary. However, there is talk that they may calculate your yearly dividends for you at some stage in the future.

Thanks guys all sorted. :) The computershare certificates shows the summary on the bottom and a proper net figure if ones wants to reconcile the figures. The Market Link Services doesn't say net at all, it's the amount credited to bank account or something at the bottom.

May also need to do another adjustment. The BNZ Tax Certificate does not show a RWT figure, only net interest. The IR3 ask for gross interest and RWT. Do I use the net interest as RWT?


Thanks again.

Edit. I put the dividend amount with computershare or the dividend declared (with Market Link Services) which both are not the gross nor the net. I incorrectly thought the amount was before everything else which was the more before figure before deductions.

rayonline the BNZ Tax certificate would have Gross Interest and RWT on it surely. To put down net interest as RWT is just wrong.

Gross interest less RWT is your net interest.

May I suggest you get an accountant to do your tax return. Some pretty basic mistakes here.

Quote:

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Originally Posted by couta1

Strange they even asked, I've never sent in dividend certificates to confirm numbers, and the numbers have been substantial over the last few years. Even my wife's I just give the numbers over the phone to finalise her personal tax summary. However, there is talk that they may calculate your yearly dividends for you at some stage in the future.

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couta they would have looked at his dividends declared and imputation credits claimed along with RWT and worked out that they do not balance hence the request to provide the information.

Quote:

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Originally Posted by 777

rayonline the BNZ Tax certificate would have Gross Interest and RWT on it surely. To put down net interest as RWT is just wrong.

Gross interest less RWT is your net interest.

May I suggest you get an accountant to do your tax return. Some pretty basic mistakes here.

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It does not list RWT at all. Doesn't even say gross interest.

It only say interest earned, tax deducted and net interest.

Quote:

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Originally Posted by rayonline

It does not list RWT at all. Doesn't even say gross interest.

It only say interest earned, tax deducted and net interest.

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Interest earned is your Gross interest, tax deducted is your RWT and net interest is what you received after RWT was deducted.

Interest Earned: the gross interest amount;

Tax Deducted: the tax deducted (also known as RWT);

Net Interest: the gross amount less the tax deducted.

Best Wishes
Paper Tiger

(ie same as what couta1 said)

Thanks. Kiwibank etc use the right words. Seems to be no standard.