IR9 Question 11 Exempt income

The income of some types of club or society is exempt unless the funds can be used for the private benefit of any of the organisation’s members. A list of these organisations is on the return.

Residential land withholding tax (RLWT) credit

If the organisation is an “offshore RLWT person” and has sold or transferred residential property located in New Zealand, RLWT may have been deducted from the sale price. The organisation should have received a statement on the completion of the sale process showing the amount of RLWT deducted. The organisation can claim a credit for any RLWT deducted. Show the amount of RLWT deducted, less any RLWT paid back to the organisation and/or transferred to outstanding amounts during the income year.

If there was more than one amount of RLWT deducted, show the combined amount, less any RLWT paid back to the organisation and/or transferred to outstanding amounts during the income year.