Relief at source - eligibility, documentation, deadlines - New Zealand equities

Who can obtain relief at source?

Exemption and relief at source from withholding tax on dividends from New Zealand equities are available through Clearstream for eligible beneficial owners as follows:

Documentation requirements

For relief at source from withholding tax on income from New Zealand equities, the documentation requirements vary according to the type of eligible beneficial owner, as follows:

For Residents of DTT countries:

• Request for Application of a Reduced Rate of New Zealand Withholding Tax on Equities;
• Breakdown of Holdings (when applicable).
• Tax Certificate for New Zealand equities (upon request);
• Certificate of Residence (upon request);
• Any other tax documentation required from time to time (upon request).

For Tax-exempt beneficial owners:

• Request for Application of a Reduced Rate of New Zealand Withholding Tax on Equities;
• Breakdown of Holdings;
• Certificate of Exemption;
• Tax Certificate for New Zealand equities (upon request);
• Certificate of Residence (upon request);
• Any other tax documentation required from time to time (upon request).

Positions for which clients have not submitted the requested documentation before the prescribed deadline will be taxed, through Clearstream, at the maximum applicable tax rates.

Form descriptions are presented according to the procedures available for relief and/or reclaim of withholding tax on income from New Zealand equities.

Deadlines for receipt of documents

Documentation for relief at source from withholding tax on dividends from New Zealand equities must be received by Clearstream by the following dates:

Note: The New Zealand Central Securities Depository (NZCSD) may charge a fee for any tax adjustments received by Clearstream after the above-mentioned deadlines. This fee will be passed on to clients who send late instructions.