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FIF in New Zealand: the facts

One fact per line, each with its official source, for anyone who needs to quote the rules.

Rules checked 12 November 2026.

  1. If the total cost of your foreign shares and funds is more than $50,000 on any day of the income year, all of them are in the FIF rules for that year.

    Source: IR461 p9; ITA s CQ 5(1)(d)

  2. The $50,000 test uses cost, not market value. Exactly $50,000 is inside the exemption.

    Source: IR461 pp5, 9

  3. Each person has their own $50,000; jointly held shares are split between the holders.

    Source: IR461 p9

  4. Fair dividend rate income is 5% of the market value of your FIF interests at the start of the income year, plus any quick sale adjustment.

    Source: IR461 p14; ITA s EX 52(3)

  5. The quick sale adjustment is the lesser of the total peak holding amounts and the total quick sale gains, with a negative gain total treated as nil; sales are matched last in, first out.

    Source: ITA s EX 52(7) to (14); IR461 p15

  6. Comparative value income is the closing value plus gains (sale proceeds and dividends) less the opening value and costs.

    Source: IR461 p11; ITA s EX 51

  7. A person or family trust can use comparative value instead of FDR in a year when it is lower, but must use it for all their ordinary shares that year; a CV loss is reduced to nil.

    Source: IR461 pp14, 16, 19

  8. Under FDR and CV, dividends from FIF shares are not taxed separately.

    Source: IR3G 2026 p21

  9. A foreign tax credit is limited to the NZ tax on the FIF income from that investment; unused credits are not refunded or carried forward.

    Source: IR461 p20; IR3G pp22 to 23

  10. To convert foreign amounts, divide by IRD’s rate (foreign currency per NZ$1); one method must be applied consistently, and once you use the rolling average you must keep using it.

    Source: IR461 p13; IRD overseas currency page (4 Nov 2026)

  11. FIF income goes in Question 17 of the IR3: total overseas income in box 17B and overseas tax paid in box 17A, with an IR1261 summary.

    Source: IR3G 2026 pp19, 22

  12. Qualifying ASX-listed Australian-resident companies with a franking account are exempt from FIF; their dividends are still taxable.

    Source: IR461 p7

  13. Transitional residents are outside the FIF rules.

    Source: IR461 p4

  14. Since 1 April 2025, people who became NZ resident on or after 1 April 2024 after at least 5 years away can use the revenue account method for some shares: dividends plus 70% of gains.

    Source: IR461 pp12, 17

  15. The proposed $100,000 threshold is NOT LAW: the bill introduced on 10 September 2026 lapsed at the dissolution of Parliament (checked 12 November 2026).

    Source: IRD bill commentary p48; Simpson Grierson; KPMG

You may quote these facts with a link to this page. They are general information, not tax advice. Open data: /data/ird-currency-rates.json and /data/fif-rules-2026-27.json.