Imputation credit accounts An imputation credit account is used to keep track of how much tax a company has paid and how much tax they've passed on to shareholders or had refunded to them. Use the IR407 for changes to the benchmark ratio of subsequent dividends.

How do imputation credits work NZ?

Imputation is a system that allows companies to pass on to their shareholders the benefit of the New Zealand income tax they have already paid. Companies can do this by "imputing" (attaching to the dividends they pay out) credits for the income tax the company has already paid.

How do I claim back imputation credits?

You can complete a paper copy of Application for refund of franking credits for individuals and then lodge your form over the phone. Phone us on 13 28 65 to lodge it. Have a copy of the completed form with you. At the prompts, enter your tax file number (TFN), and then press 2.