Foreign Investment Fund (FIF) income, and denial of tax losses
J B made this Official Information request to Inland Revenue Department
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From: J B
Dear Inland Revenue Department,
I would like to request the following information under the OIA:
A. A table broken down by tax year and by marginal income tax bracket, of:
1. the number of taxpayers who reported FIF income.
2. the number of taxpayers who were assessed by the IRD as having FIF income.
3. the self-assessed value of such income.
4. the value assessed by the IRD of such income.
5. Losses made on the FIF investments (this may have to be figured by comparing the balance on 1 April of one year to the balance on 1 April of the next year).
6. Losses made on the FIF investments allowed by the IRD to be deducted for income tax.
7. Losses made on the FIF investments allowed by the IRD to be carried forward to subsequent tax years.
B. A table giving the above information, but also broken down by the method of calculating FIF income (FDR, CV, etc). (As well as by by tax year and by marginal income tax bracket.)
Data covering the period since the introduction of the current Foreign Investment Fund (FIF) in (I believe) 2008, up until the current day.
I would prefer to receive an electronic response. Queries about this request will be automatically forwarded to me by the fyi.org.nz website.
With regards to s12 of the OIA, I am an NZ citizen and in NZ.
Yours faithfully,
J B
Inland Revenue Department
Dear J B ,
We have attached our response to your Official Information Act 1982
request of 23-03-20.
Yours sincerely,
Government and Executive Services | Inland Revenue - Te Tari Taake
From: oia
Inland Revenue Department
[IN CONFIDENCE RELEASE EXTERNAL]
Dear J B,
We have attached our response to your Official Information Act 1982 request of 23-03-20.
Yours sincerely,
Government and Executive Services | Inland Revenue - Te Tari Taake
-----Original Message-----
From: J B <[FOI #12500 email]>
Sent: Saturday, 21 March 2020 9:34 PM
To: oia <[IRD request email]>
Subject: 20OIA1293 Official Information request - Foreign Investment Fund (FIF) income, and denial of tax losses
Dear Inland Revenue Department,
I would like to request the following information under the OIA:
A. A table broken down by tax year and by marginal income tax bracket, of:
1. the number of taxpayers who reported FIF income.
2. the number of taxpayers who were assessed by the IRD as having FIF income.
3. the self-assessed value of such income.
4. the value assessed by the IRD of such income.
5. Losses made on the FIF investments (this may have to be figured by comparing the balance on 1 April of one year to the balance on 1 April of the next year).
6. Losses made on the FIF investments allowed by the IRD to be deducted for income tax.
7. Losses made on the FIF investments allowed by the IRD to be carried forward to subsequent tax years.
B. A table giving the above information, but also broken down by the method of calculating FIF income (FDR, CV, etc). (As well as by by tax year and by marginal income tax bracket.)
Data covering the period since the introduction of the current Foreign Investment Fund (FIF) in (I believe) 2008, up until the current day.
I would prefer to receive an electronic response. Queries about this request will be automatically forwarded to me by the fyi.org.nz website.
With regards to s12 of the OIA, I am an NZ citizen and in NZ.
Yours faithfully,
J B
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