Market Taxation Guide – Investment Funds New Zealand
This Market Taxation Guide (New Zealand) provides the following details:
- Reference information about all taxes applied at source, through CBL and its local depositories, to investment funds deposited in CBL; and
- Instructions for obtaining relief at source or a refund of withholding tax, where these are available, through CBL.
New and improved tax information and procedures that become available will be included on an ongoing basis.
This Market Taxation Guide (including any attachments and other links) is for informational purposes only and is not intended and should not be considered to be legal advice on any subject matter. Readers of this Market Taxation Guide, whether customers or otherwise, should not act or refrain from acting on the basis of any information included in this Market Taxation Guide without seeking appropriate legal or other professional advice.
CBL does not provide tax Relief at source, Quick or Standard refund services for the New Zealand Fund market. Customers are advised to consult with their tax advisor for all tax related matters..
Customers should refer to Holding Restrictions – Investment Funds – New Zealand.
Investment fund structure
For New Zealand tax purposes, the majority of New Zealand investment funds are typically structured as a generic unlisted PIE. All PIEs are structured as a separate legal entity and taxable income attributed to investors with the PIEs paying tax on their behalf.
According to New Zealand domestic tax legislation, for generic unlisted PIEs, PIE tax will apply based on the underlying income and no withholding tax will be withheld on the payment of a distribution. Customers should consult their tax advisor for further information.
Capital gains tax
There may be capital gains tax on gains arising from investments held on a revenue account, depending on your country of residency. CBL does not assist in this regard. Customers should consult their tax advisor for further information.
Corporate Income Tax
There may be corporate income tax on gains arising from investments held on a revenue account, depending on your country of residency. CBL does not assist in this regard. Customers should consult their tax advisor for further information.