IR3 Question 36 Foreign rights disclosure

If you calculated controlled foreign company (CFC) or foreign investment fund (FIF) income at Question 17, you may be required to complete an additional disclosure form for that investment. The types of foreign investment that may not require an additional disclosure are investments in countries New Zealand has a double tax agreement with as at 31 March 2019 and have used the comparative value or fair dividend rate method.

Full details of the disclosure requirements are available in the May issue of the Tax Information Bulletin (TIB) each year.

If you need help making a disclosure please call 0800 377 774.

What to show in your return

At Question 17 of your return include:

• any income and tax credits from a CFC or FIF

• any claim for BETA credits.

See IR3 Question 17 Overseas income to find out how to convert your overseas income and tax credits to New Zealand dollars.

For further information about CFCs and FIFs, go to www.ird.govt.nz