FIF-Exempt Overseas Income & Overseas Tax Credits

Content also available for New Zealand tax entities.

The FIF-Exempt Overseas Income & Overseas Tax Credits page is part of the FIF Report available within Sharesight. It provides a taxable income summary for Australian shares that are excluded from the FIF tax regime. It also details any withholding tax on FIF dividends because these can be claimed as a foreign tax credit even although dividends are not taxed separately under the FIF regime.

Note: This report is only available in New Zealand tax residency portfolios on Expert and Sharesight Pro plans.

Income from FIF-exempt investments

The Taxable Income report lists all dividend payments received on Australian shares that are exempt from taxation under the FIF rules. Exempt shares are taxed in the same way as NZ shares (i.e. they are taxed on dividend only). This income must be added to any income calculated using the FIF rules to provide a total overseas taxable income figure for your IR3 return.

Note: Income on NZ shares is reported under the Taxable Income Report as this income is entered into a separate section on the IR3 tax return.

Tax credits from FIF investments

This table details any withholding tax on FIF dividends. This withholding tax should be included in the foreign tax credits section of your IR3 return. Although FIF Dividends are not taxed separately, foreign withholding tax deducted from FIF dividends is still available as a foreign tax credit. For convenience, withholding tax from both FIF investments and FIF exempt investments is summed below the table to provide a total withholding tax figure.

Tax Credits from FIF Investments - Sharesight

Note: Please check the figures provided on this page against your actual dividend statements before supplying this information to the IRD. Sharesight relies on third party vendors for dividend information. We do our best to ensure that all data is accurate but we cannot be held responsible for missing or inaccurate data. All dividends may be edited via the Share Details screen.

Last modified on June 15, 2023 UTC

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