Investment Income workpaper (IIC)

The Investment Income (IIC) workpaper reconciles income from investments across six categories. It is mostly manual, since investment income is typically reported on external statements rather than through ledger transactions, and it feeds tax data into Taxation Due once complete.

Coverage

●       NZ Interest Received

●       NZ Dividends Received

●       Listed Portfolio Investment Entity (PIE) Income

●       Listed PIE Income, Excluded

●       Unlisted PIE Income

●       Overseas, Not Subject to Foreign Investment Fund (FIF)

Data extraction, NZ Interest Received

Manual, except for Interest on Overdrawn Current Account, which is picked up automatically from the IOA workpaper. If there is no IOA information, that row stays hidden. Where there is more than one IOA workpaper, each uses its own row.

●       Payer name is read from the IRD Income Summary document under "New Zealand interest received." Every payer is shown as a separate row.

●       Gross amount and Tax deductions are totalled per payer, per year.

●       Payer names in the IRD document are shown in all capitals; in the workpaper, only the first letter of each name is capitalised.

●       The IRD Income Summary PDF is attached as supporting, and there can be more than one supporting document.

Data extraction, NZ Dividends Received

Same source and treatment as NZ Interest Received, but drawn from the "New Zealand dividends received" and "Dividends treated as interest" sections of the IRD Income Summary. Gross amount, Tax deductions, and Imputation credits are all totalled per payer, per year. Dividends treated as interest are handled identically to ordinary dividends received.

Auto-triggered journals

●       Gross up Interest: triggers once the Interest section is completed.

●       Gross up Dividend: triggers once the Dividend section is completed.

Balance per GL

Sum of the codes mapped under each respective income section in CoA Mapping.

Related workpapers

●       Interest on Overdrawn Current Account (IOA): feeds the Interest on Overdrawn row.

●       Taxation Due (ITD): pulls investment income tax data from this workpaper.

How to access

●       Go to Jobs and open the relevant job.

●       Click the Workpapers icon or navigate to Job Results then Workpapers.

●       Select IIC on the Workpapers Dashboard.