For a copy of the standard tax certificate click here
For a copy of the tax certificate for those with an RWT-exempt certificate, click here
Please note, prior to 2016 Entrust was known as the Auckland Energy Consumer Trust (AECT). Dividends prior to 2016 will still have the Auckland Energy Consumer Trust (AECT) name.
We did a lot of work in regard to this legislation including taking specialist tax advice and have been advised by IRD that Entrust is not required to collect IRD numbers for the Entrust dividend. This is because Entrust is a trust, not a company, and people who receive the Entrust dividend are not investors. They receive the dividend simply by being a consumer with an electricity retailer. The new legislation applies only to companies and not trusts like Entrust.
That aside, we are aware it would be helpful to Entrust beneficiaries if IRD numbers were provided and IRD could process any tax refunds to individuals where applicable.
Unfortunately this was not feasible because so many of our beneficiaries are paid the dividend under a joint name and the dividend is not split out to each person as IRD requires. Additionally, around 42% of people receiving the Entrust dividend move or change customer details every year. This would have meant significant additional costs would be incurred gathering and matching IRD numbers each year.
Because everyone has different tax rates we are not able to provide calculations for the tax on a share of the dividend. You will need to ask your tax advisor or Inland Revenue. Visit www.ird.govt.nz or call Inland Revenue on 0800 775 247.
When we sent out emails and forms in June there was a section advising people wanting an RWT-exempt dividend that they need to provide their IRD number.
Unfortunately, if we did not receive your IRD number we had no way of checking on the register that you could be paid an RWT-exempt dividend. So we had to pay it as a standard dividend.
We can’t do a reissue for you as we have already paid the tax to IRD. You will need to request a refund at www.ird.govt.nz
