Do you pay tax on Costco gold bar?
Dividend income received by New Zealand tax residents is subject to income tax, though the domestic tax system utilizes a unique credit mechanism to prevent double taxation. Under the imputation system, New Zealand resident companies attach imputation credits to their dividend distributions, representing corporate income tax already paid by the company on its earnings. Shareholders declare the gross dividend as taxable income but can use these imputation credits to offset their personal income tax liabilities, meaning they pay only the difference between their individual tax bracket rate and the credits attached. Foreign dividends received by residents are also subject to tax rules, typically calculated using comparative value or fair dividend rate methods.
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