Individual income tax return guide 2011 - Inland Revenue Department
Individual income tax return guide 2011 - Inland Revenue Department
Individual income tax return guide 2011 - Inland Revenue Department
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www.ird.govt.nz<br />
31<br />
ACC earners’ levy<br />
Shareholder-employee remuneration or director’s fees without PAYE<br />
deducted are liable for ACC earners’ levy. The company should deduct<br />
earners’ levy from your remuneration or director’s fees when declared.<br />
ACC will invoice the company for this.<br />
Question 21 Rents<br />
Show <strong>income</strong> you received from rents between 1 April 2010 and<br />
31 March <strong>2011</strong> at Question 21.<br />
Prepare a summary of the details for each rental property. You can<br />
use either:<br />
––<br />
the Rental <strong>income</strong> (IR 3R) form, which asks for all the information we<br />
need, or<br />
––<br />
your own summary.<br />
You’ll no longer receive an IR 3R form in your <strong>tax</strong>pack if you showed<br />
rental <strong>income</strong> in your 2010 <strong>tax</strong> <strong>return</strong>. If you need an IR 3R form, you can<br />
print a copy off our website www.ird.govt.nz.<br />
If you prepare your own summary, please refer to the IR 3R form or our<br />
<strong>guide</strong> Rental <strong>income</strong> (IR 264) to see what to include.<br />
What to show in your <strong>return</strong><br />
Add up the net rents (total rents after expenses) and print the total in<br />
Box 21. Attach the IR 3R, or your summary, to the top of page 3 of your<br />
<strong>return</strong>.<br />
Keep your receipts with your records in case we ask to see them later.<br />
Question 22 Self-employed <strong>income</strong><br />
If you received self-employed <strong>income</strong> between 1 April 2010 and<br />
31 March <strong>2011</strong>, show it at Question 22.<br />
Schedular payment <strong>income</strong><br />
Don’t show any schedular payment <strong>income</strong> at Question 22. This <strong>income</strong><br />
is declared at Question 12. If you’re an ACC client or caregiver and<br />
received ACC personal service rehabilitation payments, please read the<br />
information on page 61 before you complete Question 12.<br />
You can claim expenses and deductions against many schedular payments<br />
at Question 26—see page 36.