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Interest in a foreign investment fund disclosure schedule (deemed rate of return method) (IR443)

(published May 2011)

About this form

If you have overseas investments including, shares in a foreign company, units in a foreign units trust or an entitlement to a benefit from a foreign superannuation scheme or a life policy, you may need to calculate your income from these investments for tax purposes. This form includes a worksheet so you can calculate your foreign investment fund (FIF) income or loss. It must be completed by a New Zealand resident with an interest in a FIF who elects to use the deemed rate of return method. A separate form for each FIF in which you hold an interest should be completed.

PDF | 176kb | 1 page

This form can be completed on-screen by typing content directly into the PDF document. Once you have completed the form it is important that you print it out as you will not be able to save the information you enter into the form.

When to use this form

Calculate your FIF income or loss using the deemed rate of return method only if you meet one of the following conditions:

  • You are an individual person and the total market value (use book value for FIF interests if the DRR method was used in the previous income year) of all your FIF interests throughout the income year did not exceed NZ$250,000.
  • It is not reasonably practicable to determine the market value of your FIF interest at the end of the income year (so as to allow the comparative value method to be used) or to use the accounting profits method.
  • You have not elected or are not required to use a particular method and it is not reasonably practicable to use the accounting profits or comparative value methods.
  • You have previously used the DRR method and must continue to use this method.
What you will need

To successfully complete and submit this form you will need:

  • your IRD number.
  • details of your foreign investment fund.
  • details of your opening book value which is the closing book value from previous income year (including notional income year).
  • details of what your FIF income or losses were offset against.
After you finish

Please print and keep a copy of the calculation worksheet for your records. Your calculation worksheet may be requested by Inland Revenue to verify the taxable income returned.

If you do not have access to the internet please complete and print, sign and attach your IR443 to your income tax return and send to your nearest Inland Revenue. A copy of the calculation worksheet should also be printed and retained for your records as you may be asked to show your calculations to Inland Revenue at future date.

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