NZ Dividend

[newbietrader]

Hi all,

Good news for PPP holders..we are getting dividends! I own a number of PPP shares too and would like to know about the tax on dividend and how dividend going to my account.

I have bought PPP thru ASB securities..Where / Do I need to register my account number so that the dividend is deposited to my acct?

With regards to tax, the dividend deposited to my acct would be the amount after tax (net amount) or before tax?
Is it a must to declare the dividend in the tax form ? If yes, which one should I declare, after tax or before tax?

Thanks for the input!

[777]

You will get a dividend statement from PPP which will have the gross dividend, any tax deducted and the net payment. You always show gross in your tax return. In this case it being an Australian dividend you would declare the amount after deduction of any Australian imputation credits as a gross amount. Doubt that there would be any on this dividend though. If any other withholding tax is deducted then you can claim that in your tax return.

But yes it is a must to declare all dividends.

Exchange rates come into it as well.

Not a PPP holder directly so others may give you a better reply.

[shasta]

You will get a dividend statement from PPP which will have the gross dividend, any tax deducted and the net payment. You always show gross in your tax return. In this case it being an Australian dividend you would declare the amount after deduction of any Australian imputation credits as a gross amount. Doubt that there would be any on this dividend though. If any other withholding tax is deducted then you can claim that in your tax return.

But yes it is a must to declare all dividends.

Exchange rates come into it as well.

Not a PPP holder directly so others may give you a better reply.

Any franking credits attached, cannot be claimed by NZ tax residents.

Sometimes overseas companies pay an extra non resident portion to make up for the loss of the tax credit.

You will receive a statement that explains it all, & plenty of people on ST hold PPP, so keep an eye on the thread

[newbietrader]

Thanks..yeah I notice there are some question about the tax related to PPP's dividend.