Get the free tax (RWT)

IR284April 2017Resident withholding tax (RAT) on dividends payer's guide What you need to know about RAT when you pay dividends2RWT ON DIVIDENDSIntroduction This guide tells companies that pay dividends

How to fill out tax rwt

How to fill out tax rwt:

1. Determine your eligibility: Before filling out tax rwt, you need to confirm whether you are required to complete this form. Tax rwt, or Resident Withholding Tax, is applicable when you receive income in New Zealand but do not have a permanent resident status or an IRD number.
2. Gather the necessary documents: To fill out tax rwt, you will need specific information and documents, such as your personal details, income details, and the payer's details. Make sure to collect all the relevant paperwork to ensure accurate reporting.
3. Obtain the tax rwt form: You can obtain the tax rwt form from the New Zealand Inland Revenue Department (IRD) website. The form is known as IR15S and is available in both print and electronic formats.
4. Fill out your personal details: Begin by entering your full name, date of birth, current address, and contact details in the designated sections of the form. Ensure the information provided is accurate and up to date.
5. Provide income information: In the tax rwt form, you will need to specify the details of the income you received. This includes the payer's name, address, and IRD number, as well as the nature of the income received.
6. Calculate the tax amount: Based on the income information provided, you need to determine the correct tax amount. You can use the IRD's resident withholding tax rate table or the non-resident withholding tax rate table to calculate the appropriate tax rate.
7. Complete the declaration: Sign and date the tax rwt form to declare that the information provided is true and accurate to the best of your knowledge. You should also review the form to ensure that you have not missed any required fields or sections.
8. Submit the form to the payer: Once you have filled out the tax rwt form correctly, you need to submit it to the payer. They will deduct the required tax amount from your income and provide you with a certificate of payment.
9. Keep a copy for your records: It is essential to keep a copy of the filled-out tax rwt form and the certificate of payment for your records. This will help you in future tax filings and serve as proof of compliance.

Who needs tax rwt?

1. Individuals without permanent resident status in New Zealand: Tax rwt is required for individuals who receive income in New Zealand but do not hold permanent resident status. This ensures that proper withholding tax is calculated and deducted from their earnings.
2. Individuals without an IRD number: If you do not have an IRD number, which is an identifier for tax purposes in New Zealand, you will need to fill out tax rwt. This helps facilitate the taxation process for individuals who have not yet obtained an IRD number.
3. Non-resident individuals: Tax rwt is applicable to non-resident individuals who receive income in New Zealand. It ensures that the correct amount of tax is deducted from their earnings and helps meet the tax obligations imposed by the New Zealand government.

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What is tax rwt?

Tax RWT stands for Tax Retention at Source. It is a tax collected at the source of income.

Who is required to file tax rwt?

Entities or individuals who make payments subject to tax retention at source are required to file tax RWT.

How to fill out tax rwt?

Tax RWT is typically filled out by providing information about the income paid, the recipient, and the applicable tax rate.

What is the purpose of tax rwt?

The purpose of tax RWT is to ensure that taxes are collected at the source of income, rather than relying on the recipient to report and pay taxes.

What information must be reported on tax rwt?

Information such as the name and identification number of the recipient, the amount of income paid, and the tax rate applied must be reported on tax RWT.