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Increased non-declaration rate
- Do you think the non-declaration rate on interest and/or PIE income should be increased?
- Can you see any administrative difficulties in applying a non-declaration rate of 45%?
- If PIE income has a higher non-declaration rate, do you think the PIE income taxed at this rate should be treated as taxable income so recipients can claim the tax credits?
Date of birth information
More information would be provided to Inland Revenue
- Can you think of any practical problems with providing detailed reporting?
- Would Māori authorities have difficulties providing detailed information to Inland Revenue?
- If providing detailed reporting on interest that is exempt from withholding tax would be difficult please explain how this could be made easier.
- If detailed reporting was required for interest that is subject to AIL, how frequently should that information be provided?
Information would be provided more often to Inland Revenue
- What alternatives do you think should be considered for locked in PIEs for reporting investor details, PIRs and income?
- What do you think is a realistic timeframe for making changes to systems?
- If you are a manager of a PIE fund (or funds), would your systems be able to provide monthly income calculations and investor details?
- Would it make a significant difference to compliance costs to provide information about individual taxpayers monthly rather than quarterly, or would the difference be marginal as system changes would be needed either way?
Reporting requirements would change
- What constraints or limitations can you think of that should be considered when designing the gateway?
- Do you think people and organisations exempt under other Acts should need to apply for a certificate of exemption in order to be treated as exempt from RWT?
- Would having a database of currently valid certificates of exemption be useful to you? If you don’t think so, please explain why.
- Do you think the Government should remove the requirement for payers to provide end-of-year tax certificates to customers that have provided their IRD numbers?