NEW3.03.02 · Released 2 July 2020

NEWfinPOWER Connect

Released in

3.03.02

2 July 2020

1. Opened12 May
2. Closed27 May
3. Released2 Jul

Article 16998 Job J024226

NZ IRD; Investment Income Report; IPS Export renamed and some validations removed

The Investment Income Report Export has been updated with the following:

• "Pay as you Earn (IPS)" has been renamed to "Resident Withholding Tax on Interest (IPS)".
• AIL, NRWT and IPS now allow negative values to be submitted within the export.
• This includes total Interest and Withholding Tax.
• Previously, negative values caused export validation errors.
• Withholding Tax Rate validation:
• Tax Rate must be between 0% and 100% for AIL and IPS. NRWT must be 0% or greater.