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IR3NR Question 10 New Zealand dividends

Did you receive any New Zealand dividends between 1 April 2018 and 31 March 2019?

Show them at Question 10. Include dividends earned by a partnership or estate or distributed by a trust.

Do not include dividends received which are fully imputed and from a company in which you have a 10% (or greater) direct voting interest. The NRWT rate on these dividends is 0%.

Don’t include any dividends that have had NRWT deducted at the correct rate.

If you received fully imputed cash dividends, the rate of NRWT is 15%.

Credits attached to dividends

A New Zealand company may attach several types of credits to dividends.

  • NRWT—30% or 15% of the dividend is deducted when it’s paid to you.

  • Imputation credits—a portion of the tax paid by the company on its profits.

You can’t claim imputation or franking credits from dividends paid to you while you’re a non-resident but you can claim any excess imputation credits you received while you were resident in New Zealand because these can be offset against tax payable on “other income”. If you have excess imputation credits to bring forward see IR3NR Excess imputation credits brought forward.

  • If the dividend does not have NRWT deducted, RWT would generally be deducted at 33%.

What to show in your return

From each dividend statement, show at Question 10:

  • the name of the company

  • the dividend credits (by adding up the NRWT and RWT)

  • the gross dividend (by adding up the dividend paid, NRWT and RWT).

Add up the amounts and print the totals in Boxes 10A and 10B.

Don’t include any imputation or franking credits shown because they don’t apply to you.

Don’t send Inland Revenue your dividend statements, but keep them in case they ask for them later.


If your dividends have had RWT deducted, include this in Box 10A. Tell the payer you’re a non-resident and the country you’re resident in. The payer will then deduct NRWT at the rate for that country.

NRWT payable on your dividends

Refer to the Inland Revenue website at (search keywords: NRWT rates) to find the NRWT rate on dividends for your country of residence. Multiply that rate by the amount in Box 10B of your return and print your answer in Box 10C.

The credits attached to the gross dividends will be offset against the NRWT payable.

Shares instead of dividends

If you received shares from a taxable bonus issue or a non-cash dividend, include them as income at Question 10. Write the amount as if you received dividends instead of shares.

More than three statements
There’s space on the return for details from three dividend statements. If you have more than three dividend statements, add up all dividend credits (NRWT and RWT) and gross dividends from all your statements and print the totals in Boxes 10A and 10B.
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