Beginners

[Snoopy]

Thinking some more it gets even weirder. The figure at Q7 of this form has to be included in Other Income in one's IR3 tax return - it includes interest earned in current year - which IRD will already have recorded in one's dividends or interest received.

The income earned and tax paid figures supplied to you by the IRD are not set in stone. You are allowed to amend them if they are incorrect or incomplete (both of which has happened to me). They are also only 'bare figures earned' over one financial year. The figures do not record when bonds were bought or sold, and the tax deducted from bonds in any particular year may therefore not reflect your tax liability on those bonds (actual tax liability could be higher or lower). The final calculation, on winding up a bond, could also be affected by how much your tax rate has changed between tax years.

SNOOPY