At the end of the tax year, if I have a PIE tax obligation, how is it paid?

If you have any outstanding tax liability payable at the end of the tax year, we will pay this to the IRD on your behalf.

Prior to the PIE tax year end, we will send you an e-mail with a provisional calculation of your tax obligation. This will be followed by another email in early April once the final PIE calculations have been completed. After around a week, we will debit your InvestNow transaction account for the amount of PIE tax payable. However, if you do not have sufficient funds available […]

By |2019-06-14T13:27:40+12:00February 6th, 2017||Comments Off on At the end of the tax year, if I have a PIE tax obligation, how is it paid?

How will tax on my Managed Funds be paid?

At the time you sell any units in a PIE managed fund or at PIE tax year end (31st March) your PIE tax liability will be paid by InvestNow on your behalf and returned to the IRD.

For Australian-domiciled managed funds which are not PIEs, InvestNow does not pay tax on your behalf and you need to report income from these funds on your tax return. Your Tax Summary Report will contain a summary of the taxable income from these funds including both the Fair Dividend Rate (FDR) and […]

By |2019-06-14T13:31:30+12:00January 9th, 2017||Comments Off on How will tax on my Managed Funds be paid?

Will I receive a tax report?

InvestNow produces a consolidated tax report showing:

  • Foreign Investment Fund (FIF) Income, with both Fair Dividend Rate (FDR) and CV calculations detailed.
  • PIE tax information (consolidated for all the PIEs you are holding) showing PIE tax assessed, tax credits used and PIE tax paid. For a zero PIR, this will include PIE taxable income and attributed tax credits.
  • Any other sources of taxable income, deductible expenses or tax withheld on income payments will also be included.

The InvestNow consolidated tax report is a tax summary in order to assist the investor […]

By |2019-06-14T13:34:11+12:00March 13th, 2017||Comments Off on Will I receive a tax report?

What is Resident Withholding Tax (RWT)?

You can find out more on the IRD website.

Resident Withholding Tax (RWT) is a tax deducted from the gross amount of interest paid to you. It is deducted at the time when the interest is paid to your InvestNow cash account.

When you open an InvestNow account, you will be asked to select your RWT rate and IRD number.

If we do not have an IRD number your account will be taxed at the maximum “non-declaration” rate of 33%.

By |2019-06-14T14:10:03+12:00December 10th, 2016|, |Comments Off on What is Resident Withholding Tax (RWT)?