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SPARK New Zealand Ltd Dividends

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Newbie

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In dividend statement, there are Imputation Tax Credit and Non-Resident Withholding Tax. 

Can treat Imputation Tax Credit as Total franking credits and Non-Resident Withholding Tax as Total TFN amounts withheld when I do ATO Tax Return ?

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Hi @hezl,

 

Thanks for your patience whilst we received specialist information regarding your query.

 

If you're a resident of Australia, you report the dividend from Spark New Zealand at item 20 (Foreign source income and foreign assets or property) in the Tax return for individuals (supplementary section). The amount you report is the gross taxable dividend which had been converted to Australian dollars. 

 

There is no Australian franking attached to the two dividends paid on the 6 October 2017 and 6 April 2018. 

 

If you received a supplementary dividend then you're a non- resident shareholder. If you're a non-resident shareholder in Spark New Zealand, you cannot claim the Imputation Tax Credit shown on your dividend statement. If your dividends include Australian franking credits, you reduce the Australian franking credits by the amount of the supplementary dividend you received. You can find more information in Part E of Instructions relating to item 20 at Supplementary-tax-return/Income-questions-20-Foreign-source-income-and-foreign-assets-or-property

 

To claim your Withholding tax, you need to complete Part H in item 20 of the income tax return. You insert the Withholding tax at label O in item 20 of the tax return.

 

Thanks, JodieH.

2 REPLIES 2
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Community Support

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Hi @hezl,

 

Thanks for getting in touch!

 

We've sent your query to our specialist area who has advised they need to look into the information in more detail. As soon as we receive information back from our specialist area, we'll let you know.

 

Thanks, JodieH.

Highlighted

Best answer

ATO Certified

Community Support

Replies 0

Hi @hezl,

 

Thanks for your patience whilst we received specialist information regarding your query.

 

If you're a resident of Australia, you report the dividend from Spark New Zealand at item 20 (Foreign source income and foreign assets or property) in the Tax return for individuals (supplementary section). The amount you report is the gross taxable dividend which had been converted to Australian dollars. 

 

There is no Australian franking attached to the two dividends paid on the 6 October 2017 and 6 April 2018. 

 

If you received a supplementary dividend then you're a non- resident shareholder. If you're a non-resident shareholder in Spark New Zealand, you cannot claim the Imputation Tax Credit shown on your dividend statement. If your dividends include Australian franking credits, you reduce the Australian franking credits by the amount of the supplementary dividend you received. You can find more information in Part E of Instructions relating to item 20 at Supplementary-tax-return/Income-questions-20-Foreign-source-income-and-foreign-assets-or-property

 

To claim your Withholding tax, you need to complete Part H in item 20 of the income tax return. You insert the Withholding tax at label O in item 20 of the tax return.

 

Thanks, JodieH.