Section Sch6-1B — Income Tax Act 2007: Foreign investment variable-rate PIEs and notified foreign investors

1B Foreign investment variable-rate PIEs and notified foreign investors A foreign investment variable-rate PIE must apply the prescribed investor rates set out in table 1B in relation to income attributed to notified foreign investors in the PIE. Table 1B Row Amounts Prescribed rate 1 To the extent to which it is not fully imputed, a dividend derived from a company resident in New Zealand attributed to an investor who does not reside in a country with which New Zealand has a double tax agreement. 0.3000 2 An amount other than an amount referred to in rows 1, 3 to 5, and 7, that has a source in New Zealand. 0.2800 3 To the extent to which it is not fully imputed, a dividend derived from a company resident in New Zealand attributed to an investor who resides in a country with which New Zealand has a double tax agreement. 0.1500 4 Interest derived under a financial arrangement, being an amount referred to in the definition of interest , paragraph (a) or (b), that has a source in New Zealand and is calculated under subpart EW. 0.0144 5 A fully imputed dividend derived from a company resident in New Zealand. 0.0000 6 A foreign-sourced amount. 0.0000 7 An amount derived under a financial arrangement that has a source in New Zealand other than an amount of interest referred to in row 4. 0.0000 Schedule 6 clause 1B: inserted, on 29 August 2011 (applying for the 2012–13 and later income years for a foreign investment variable-rate PIE and a notified foreign investor in the PIE), by section 137(3) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Schedule 6 table 1B row 2: amended (with effect on 1 April 2012), on 2 November 2012, by section 163(2) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).