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Other Income Sources

If I Have Other Income Sources, Can I Apply for a Refund?

Yes, we can file any type of tax return. Once you’ve completed the online application, someone will phone to help you with this. Please ensure your phone details are up to date.

What Happens If My Accountant has Already Assessed a Tax Year?

Then there’s no need to apply for a refund calculation for that tax year.

What is Classed as Other Income Sources?

Other sources of income include: income from rental properties; income earned overseas; trust or estate income; business income from self-employment; partnership or company and shareholder income.

What is Self-employment or Partnership Income?

If you’re self-employed or work in a partnership business, you earn income from sources other than a New Zealand wage or salary. Self-employment refers to a person who works for himself/herself instead of as an employee of another person or organisation. They operate as a sole trader or as part of a partnership. The individual sets up their own business in order to derive an income as opposed to being an employee and receiving a salary or wage.

Am I a Resident of New Zealand for Tax Purposes?

You’re a tax resident of New Zealand if you have a permanent place of abode in New Zealand and you’ve lived in New Zealand for 183 continuous days in any 12-month period.

Am I a Non-resident of New Zealand for Tax Purposes?

Only if you’re away from New Zealand for a total of 325 days in any 12-month period. Non-residence starts from the first day of absence.

What is Overseas Income?

Overseas income is any income earned outside New Zealand. Examples of this include: pensions, income from overseas investments, overseas rental income, and earnings from working abroad. If you earned overseas income during the applicable tax year you have income from sources other than a New Zealand wage or salary.

What is Rental Income?

If you receive income from a rental property this counts as income from sources other than a New Zealand wage or salary.

What is a Taxable Distribution?

A “taxable distribution” usually occurs as a result of:

  • A share of partnership income.
  • A share of trust income.
  • An allocation of a shareholders salary from a company.
  • Dividends declared by a company and passed to a shareholder.

What If I’ve Got a Question About Other Sources of Income That’s Not Covered Here?

Once you’ve created your account, just log on and ask a question by submitting a support request through the online support centre. This lets us track and respond to your requests through your account.

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