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IR 67SG1 March 2012

NRWT reconciliation statement guide 2012 Use this guide to help you complete your: • IR 67 NRWT withholding certificates • IR 67S NRWT reconciliation statement.

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NRWT RECONCILIATION STATEMENT GUIDE

www.ird.govt.nz Go to our website for information, services and tools. • Secure online services – login to check your account information, file an employer schedule, confirm personal tax summaries and update your family details and income. • Get it done online – complete and send us forms and returns, make payments, make an appointment to see us and give us feedback. • Work it out – use our calculators, worksheets and tools to help you manage your tax business like checking your tax code, or your filing and payment dates. • Forms and guides – download our guides, and print forms to post to us. You can also check out our newsletters and bulletins, and have your say on items for public consultation.

How to get our forms and guides You can view copies of all our forms and guides mentioned in this guide by going to www.ird.govt.nz and selecting “Forms and guides”. You can also request copies by calling 0800 257 773.

The information in this guide is based on current tax laws at the time of printing.

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Contents Page www.ird.govt.nz 2 How to get our forms and guides

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Filling in your IR 67

4

Filing certificates electronically

5

IR 67 NRWT deduction certificate (example)

6

Customised certificate format

8

Country codes

9

Filling in your IR 67S NRWT reconciliation statement 13 IR 67S NRWT reconciliation statement (example)

14

Finalising the reconciliation

16

Late payment

17

0800 self-service numbers

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Customer service quality monitoring

18

Privacy

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NRWT RECONCILIATION STATEMENT GUIDE

Filling in your IR 67 The New Zealand NRWT withholding certificate (IR 67) is a summary of the income paid and NRWT deducted for the year. You must complete your IR 67 form and send it with your IR 67S reconciliation to:

Inland Revenue PO Box 39090 Wellington Mail Centre Lower Hutt 5045

Prepare an NRWT withholding certificate for each nonresident you paid non-resident passive income (NRPI) to during the financial year—see examples on pages 6 and 14. The certificate must show: • the income year covered • the recipient’s full name • their full overseas address • the recipient’s IRD number (if you know it) • the recipient’s date of birth (if you know it) • the country code of the non-resident • the type of income liable for NRWT (interest, dividends, copyright [cultural] royalties, other royalties and knowhow payments) • please also include any NRPI exempt from NRWT in Box 10 eg, gross dividends exempt from NRWT • the gross NRPI liable for NRWT (in the appropriate boxes) • if NRWT is nil please put 0.00 in Box 11 • the amount of NRWT calculated on the gross NRPI • the net NRWT paid for the year (after allowing for any foreign dividend payment [FDP] credit) • your own name, address and IRD number • your signature and the date.

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Please note you won’t be able to show a surname and first name for non-individuals. Please show the whole name on the “Surname” line. For example: Company

–

Wyatt Firsound Ltd

Partnership –

Upp and Adam

Trust

–

Owen Mahoney Family Trust

Estate

–

Amanda Legg Estate

Complete one certificate for each recipient showing all income and fill in the details for the year to 31 March. For joint accounts you only need to issue one certificate. After completing the certificates, send the top copy to each non-resident. Attach the bottom copies to your IR 67S reconciliation.

Filing certificates electronically When you file your IR 67S reconciliation, please show at Box 17 if you’ve used a disk to file the certificates. Before you send your disk with your reconciliation, you may like to send us a sample of your certificate data for us to test and certify. This will ensure we can process your reconciliation quickly and without problems when we receive it. If you don’t want to provide test data we’ll process your “production” disk using the same certification process (this must be done annually) and contact you if there are any problems. Certificate specifications are available on the software developers’ page on www.ird.govt.nz or by contacting the magmedia team: Email [email protected] Phone

0800 433 453

Fax

04 890 4714

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NRWT RECONCILIATION STATEMENT GUIDE

Income Tax Act 2007

New Zeal withholdi

• Please read the notes in our NRWT payer’s guide (IR 29 to help you fill in this form.

Recipient’s details – Full name and overseas address of receiving income Surname

Print the full name and full address of the non-resident here

First name(s)

WILSON MATILDA

Full overseas address Street

24 BARING DOWNS

Suburb

BROKEN-BANK HILL NICKSTOWN AUSTRALIA

City Country

Income liable for NRWT

Enter the gross non-resident passive income paid or credited

Gross amoun or credited in

Dividends

4

Interest Copyright (cultural) royalties Other royalties and know-how payments

Add Boxes 1

Less: FDP cr gross amou Net NRWT

Print the full name and full address of the person or company paying the NRWT

Sign and date

Payer’s details – Full name and address of person or co paying the tax Name Address

Payer’s signature

FRASER, JOLLIE, GOODFELLOW 92 JONQUIL WAY HOKITIKA, NZ Anne De Vere

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IR 67

land NRWT ing certificate

November 2011

Inland Revenue copy

91)

f person

Year ending 31 March 2

10 637 421

(8 digit numbers start in the second box.

4

0 1 01 1 9 6 5 Month

Country code 6

11

4 96. 3 0

8

12

9

13

10

14

11 to 14

15

redits including unt in NZ$

16

paid in NZ$

ompany

Print the appropriate country code from pages 9–13 in this guide

NRWT on gross amount in NZ$ 7

4 , 9 36 . 00

Show the nonresident’s IRD number if you know it

1A

Year

AU

nt paid n NZ$

1

)

Recipient’s date of birth Day

5

Enter the year the income was paid or credited

2 0 12

Recipient’s New Zealand IRD number (if known)

3

Your copy

17

Payer’s IRD number

11 321 677

Certificate number

Date

15 05 2 0 1 1

Day

Month

Year

Enter the NRWT deducted from the gross income Total NRWT deducted from the non-resident’s income Net NRWT paid to Inland Revenue Enter the payer’s IRD number

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NRWT RECONCILIATION STATEMENT GUIDE

Customised certificate format To use a customised form of certificate (such as a bank statement) you need to get approval from us first. Send a copy of your customised form to our:

Non-resident Centre Inland Revenue Private Bag 1932 Dunedin 9054

You can contact our Non-resident Centre by:

Phone

03 951 2020 Monday–Friday 9am–4.30pm



Fax

03 951 2216

Email [email protected] Any customised certificate format must still show all the information listed in your NRWT payer’s guide (IR 291). If you use customised certificates, you may send them on disk with your IR 67S reconciliation. The notices you send to clients, or any summary reports, aren’t acceptable as copies of certificates.

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Country codes Use these codes to fill in Box 6 of your IR 67. Afghanistan AF Åland Islands AX Albania AL Algeria DZ American Samoa AS Andorra AD Angola AO Anguilla AI Antarctica AQ Antigua and Barbuda AG Argentina AR Armenia AM Aruba AW Australia AU Austria AT Azerbaijan AZ Bahamas BS Bahrain BH Bangladesh BD Barbados BB Belarus BY Belgium BE Belize BZ Benin BJ Bermuda BM Bhutan BT Bolivia BO Bosnia and Herzegovina BA Botswana BW Bouvet Island BV Brazil BR British Indian Ocean Territory IO Brunei Darussalam BN Bulgaria BG Burkina Faso BF Burundi BI

Cambodia KH Cameroon CM Canada CA Cape Verde CV KY Cayman Islands Central African Republic CF Chad TD Chile CL China CN Christmas Island CX Cocos (Keeling) Islands CC Colombia CO Comoros KM Congo CG Congo, The Democratic Republic of the CD CK Cook Islands Costa Rica CR Côte D’ivoire CI Croatia HR Cuba CU Cyprus CY Czech Republic CZ Denmark DK Djibouti DJ Dominica DM Dominican Republic DO Ecuador EC Egypt EG El Salvador SV Equatorial Guinea GQ Eritrea ER Estonia EE Ethiopia ET

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NRWT RECONCILIATION STATEMENT GUIDE

Falkland Islands (Malvinas) FK FO Faroe Islands Fiji FJ Finland FI France FR French Guiana GF French Polynesia PF French Southern Territories TF Gabon GA Gambia GM Georgia GE Germany DE Ghana GH Gibraltar GI Greece GR Greenland GL Grenada GD Guadeloupe GP Guam GU Guatemala GT Guernsey GG Guinea GN Guinea-Bissau GW Guyana GY Haiti HT Heard Island and McDonald Islands HM Holy See (Vatican City State) VA Honduras HN Hong Kong HK Hungary HU Iceland IS India IN Indonesia ID Iran, Islamic Republic of IR Iraq IQ Ireland IE

Isle of Man IM Israel IL Italy IT Jamaica JM Japan JP Jersey JE Jordan JO Kazakhstan KZ Kenya KE Kiribati KI Korea, Democratic People’s Republic of KP Korea, Republic of KR Kuwait KW Kyrgyzstan KG Lao People’s Democratic Republic LA Latvia LV Lebanon LB Lesotho LS Liberia LR Lybia LY Liechtenstein LI Lithuania LT Luxembourg LU Macao MO Macedonia, The Former Yugoslav Republic of MK Madagascar MG Malawi MW Malaysia MY Maldives MV Mali ML Malta MT Marshall Islands MH Martinique MQ Mauritania MR Mauritius MU Mayotte YT

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Mexico MX Micronesia, Federated States of FM Moldova, Republic of MD Monaco MC Mongolia MN Montenegro ME Montserrat MS Morocco MA Mozambique MZ Myanmar MM Namibia NA Nauru NR Nepal NP Netherlands NL Netherlands Antilles AN NC New Caledonia New Zealand NZ Nicaragua NI Niger NE Nigeria NG Niue NU Norfolk Island NF Northern Mariana Islands MP Norway NO Oman OM

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Qatar QA Réunion RE Romania RO Russian Federation RU Rwanda RW Saint Helena SH Saint Kitts and Nevis KN LC Saint Lucia Saint Pierre and Miquelon PM Saint Vincent and the Grenadines VC Samoa WS San Marino SM Sao Tome and Principe ST Saudi Arabia SA Senegal SN Serbia RS Seychelles SC Sierra Leone SL Singapore SG Slovakia SK Slovenia SI Solomon Islands SB Somalia SO South Africa ZA South Georgia and the South Sandwich Islands GS Spain ES Sri Lanka LK Sudan SD Suriname SR Svalbard and Jan Mayen SJ Swaziland SZ Sweden SE Switzerland CH Syrian Arab Republic SY

Pakistan PK Palau PW Palestinian Territory, Occupied PS Panama PA PG Papua New Guinea Paraguay PY Peru PE Philippines PH Pitcairn PN Poland PL Taiwan, Province TW Portugal PT of China Puerto Rico PR Tajikistan TJ

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NRWT RECONCILIATION STATEMENT GUIDE

Tanzania, United Republic of TZ Thailand TH Timor-Leste TL Togo TG Tokelau TK Tonga TO Trinidad and Tobago TT Tunisia TN Turkey TR Turkmenistan TM Turks and Caicos Islands TC Tuvalu TV Uganda UG Ukraine UA United Arab Emirates AE GB United Kingdom (Does not include Jersey, Guernsey, or the Isle of Man. These direct dependencies of the British Crown have their own tax administrations.)

United States US United States Minor Outlying Islands UM Uruguay UY Uzbekistan UZ Vanuatu VU Vatican City State VA refer Holy See Venezuela, Bolivarian Republic of VE Vietnam VN Virgin Islands, British VG Virgin Islands, US VI Wallis and Futuna Western Sahara

WF EH

Yemen YE Zambia ZM Zimbabwe ZW

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Filling in your IR 67S NRWT reconciliation statement Each year you must fill in an NRWT reconciliation statement for the year to 31 March. It balances the NRWT owing on the interest, dividends and royalties you paid with the NRWT paid during the year. To complete the reconciliation you must record these details: • total of each type of non-resident passive income (interest, dividends, copyright [cultural] royalties, other royalties and know-how payments) • total NRWT calculated on the gross income • total NRWT paid for the year to 31 March. If you need help with the reconciliation, contact our Non-resident Centre. Attach your IR 67 certificates to your reconciliation and show how many are attached in Box 16. We use this figure to ensure that all certificates are processed. You need to fill in the NRWT reconciliation statement (IR 67S) and send it back to us at the following address by 31 May:

Inland Revenue PO Box 39090 Wellington Mail Centre Lower Hutt 5045

If you’re filing your certificates electronically, send the disk with your reconciliation to: Inland Revenue PO Box 39010 Wellington Mail Centre Lower Hutt 5045

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NRWT RECONCILIATION STATEMENT GUIDE

NRWT on interest, dividends royalties reconciliation statem

IRD number Year ended

● Please read our NRWT reconciliation statement guide (IR 67SG) to help you fill in this form. ● Print all amounts in New Zealand dollars (NZ$). ● This reconciliation is due by 31 May. Any amount owing in Box 15 is due by 20 April. Gross interest, dividends and royalties – NZ$ Print the total gross dividends (include both dividends liable for NRWT and dividends zero rated).

2

Print the total gross interest liable for NRWT.

3

Print the total gross copyright (cultural) royalties liable for NRWT.

4

Print the total gross other royalties and know-how payments liable for NRWT.

5

Add Boxes 2 to 5. This is the total gross amount paid or credited.

6

NRWT – NZ$ Print the total NRWT calculated on the gross dividends (if NRWT is nil please put 0.00 in Box 7).

7

Print the total NRWT calculated on the gross interest.

8

Print the total NRWT calculated on the gross copyright (cultural) royalties. Print the total NRWT calculated on the gross other royalties and know-how payments.

10

Add Boxes 7 to 10. This is the total amount of NRWT calculated.

11

Print the FDP credits included in gross dividends.

12

Subtract Box 12 from Box 11. This is the total NRWT payable.

13

Print the total NRWT paid from IR 67Ps sent to Inland Revenue.

14

Subtract Box 14 from Box 13 and print the answer in Box 15.

15

9

If Box 13 is larger than Box 14 the difference is the amount to pay. You must pay this by 20 April. If Box 14 is larger than Box 13 the difference is your refund.

(Tick one)

Refund

Has payment been made electronically?

(Tick one)

Yes

Print the number of IR 67 certificates attached in Box 16.

16

Have you filed your IR 67 certificates by disk?

17

Yes

Declaration I declare the information given in this return is true and correct. OFFICE USE ONLY

Signature

Date

18

Operator code

Scanner Corresp. indicator

Paym atta

Post this reconciliation and your NRWT withholding certificates or disk in the envelope provide or within 40 working days after the end of the month of cessation. Keep a copy for your re

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and ment

IR 67S January 2012

Income Tax Act 2007

Enter the total gross income amounts for the year

Enter the total NRWT calculated on the gross income

Show the NRWT paid from the IR 67P forms sent to Inland Revenue during the year Tax to pay

Show the number of certificates attached to this reconcilliation

No 67 No

ment ached

If you have sent your certificates electronically please tick “yes” Return cat.

ed by 31 May,

ecords.

Sign and date here Make a copy

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NRWT RECONCILIATION STATEMENT GUIDE

Finalising the reconciliation Box 15 of the IR 67S reconciliation may result in tax to pay or a refund of NRWT. Here’s what to do in each case.

Tax to pay Any extra NRWT owing at 31 March is due for payment by 20 April. You may use your March IR 67P payment slip for this. Please attach a letter to your reconciliation explaining the reasons for the underpayment.

How to make payments You can make payments: • electronically • by post – but never send cash • at a Westpac branch by cheque or electronically • by using our drop box. Electronic payments are made through your bank by: • automatic payment • online banking • direct credit. When making electronic payments, include: • your IRD number • a tax type code, eg, NRT for NRWT • the period payment is for.

Paying online by credit or debit card You can also make all your online payments by credit or debit card. Our bank, Westpac New Zealand, charges a 1.42% convenience fee on each transaction. For full details on payment options go to www.ird.govt.nz (keywords: making payments) or read our guide Making payments (IR 584).

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Refund If you’re due a refund attach a letter to your reconciliation explaining how the overpayment happened. Please let us know what you want us to do with the credit. We can transfer it to another tax account, or give you a refund. If you don’t send the letter, we’ll have to ask you for the information and this could delay your refund.

Late payment We will charge you interest if you don’t make your tax payment by the due date. We may also charge you a late payment penalty if you miss a payment, but if you have a good payment history with us we may contact you before we do this. If your tax remains unpaid, we’ll charge an initial 1% late payment penalty on the day after the due date. We’ll charge a further 4% penalty if there’s still an amount of unpaid tax (including penalties) seven days after the due date. Every month the amount owing remains unpaid after the due date we’ll charge a further 1% incremental penalty. Interest and late payment penalties are not charged on outstanding amounts of $100 or less.

Arrangements If you’re unable to pay your tax by the due date, please call us. We’ll look at your payment options, which may include an instalment arrangement, depending on your circumstances. Arrangements can be agreed on, before or after the due date for payment. There are greater reductions in the penalties charged if the arrangement is made before the due date.

For more help See our guide Taxpayer obligations, interest and penalties (IR 240).

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NRWT RECONCILIATION STATEMENT GUIDE

0800 self-service numbers This service is available seven days a week (any time, except between 5 am and 6 am) for a range of self-service options. Remember to have your IRD number with you when you call. For personal information, such as account balances, you’ll also need a personal identification number (PIN). You can get a PIN by calling 0800 257 777 and following the step-bystep instructions. Order publications and taxpacks

0800 257 773

Request a summary of earnings

0800 257 778

Request a personal tax summary

0800 257 444

Confirm a personal tax summary

0800 257 771

All other services

0800 257 777

Customer service quality monitoring As part of our commitment to providing you with a quality service, we record all phone calls to and from our contact centres. Find out more about this policy or how to access your recorded information at www.ird.govt.nz

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Privacy Meeting your tax obligations means giving us accurate information so we can assess your liabilities or your entitlements under the Acts we administer. We may charge penalties if you don’t. We may also exchange information about you with: • some government agencies • another country, if we have an information supply agreement with them • Statistics New Zealand (for statistical purposes only). If you ask to see the personal information we hold about you, we’ll show you and correct any errors, unless we have a lawful reason not to. Call us on 0800 377 774 for more information. For full details of our privacy policy go to www.ird.govt.nz (keyword: privacy).