NZ Tax Summary

Documentation Index

Fetch the complete documentation index at: https://docs.investsync.co.nz/llms.txt

Use this file to discover all available pages before exploring further.

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Overview

The NZ Tax Summary helps New Zealand organisations review investment income, tax credits, and Foreign Investment Fund (FIF) calculations for a selected tax year. It is designed as a review and working paper, not a final tax return. Always compare the summary with source documents and speak with your tax adviser before filing.

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Before you start

Check these items before relying on the summary:

• The organisation country is set to New Zealand.
• The taxpayer type is correct in Settings > Organisation > Tax settings.
• The tax year is the one you want to review.
• Each investment has the right domicile country.
• Offshore investments have opening and closing values for the tax year.
• Buy, sell, dividend, interest, and tax credit entries have been reviewed against source records.
• Foreign currency entries have the right FX rate for the transaction date.

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What the summary shows

The top cards show:

• Assessable income: income included for the selected tax year.
• Estimated tax: an estimate based on the organisation’s taxpayer type and the selected tax year.
• Tax credits: recorded credits such as imputation credits, resident withholding tax, and foreign withholding tax where allowed.
• Net tax payable: estimated tax after credits.

The income section lists dividends and interest separately. If an offshore dividend is covered by FIF, it is shown as excluded from ordinary dividend income so it is not counted twice.

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FIF review

The FIF section shows each foreign holding, its opening value, FDR income, CV income, selected method, and assessable amount. Use the domicile setting carefully:

• New Zealand holdings are treated as income only.
• Most foreign holdings are reviewed under FIF.
• Australian holdings may qualify for a specific ASX-listed company exemption, but this still needs source-record review.

If a holding shows Review, check whether values are missing or whether the source data needs attention before relying on the figure.

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Audit trail

Open Audit Trail to see how each figure was built. The audit trail includes the calculation step, amount, and source reference where available. Use it to trace a figure back to transactions, tax entries, investment records, or valuation data. This is useful when preparing workpapers or answering adviser questions.

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Good practice