NZ FIF Tax Calculator (multi-holding)
Calculate Foreign Investment Fund tax across multiple offshore shares and ETFs. Compares Fair Dividend Rate (FDR) and Comparative Value (CV), applies the $50,000 de minimis on cost basis for individuals and eligible trusts, forces FDR for companies, and supports the quick-sale adjustment (QSA).
From your broker's FIF report — capped at 5% of cost basis.
Recommended Method
Fair Dividend Rate (FDR)
Lower deemed income of the two methods
Deemed income
Estimated tax
Marginal rate
| Method | Deemed Income | Formula |
|---|---|---|
| Fair Dividend Rate (FDR)Recommended | $5,000.00 | Σ opening × 5% |
| Comparative Value (CV) | $30,000.00 | closing + sales + dividends − opening − purchases |
| Holding | Cost Basis | FDR | QSA | CV |
|---|---|---|---|---|
| Holding 1 | $75,000.00 | $5,000.00 | $0.00 | $30,000.00 |
| Portfolio CV (gains net of losses, floored at $0) | $30,000.00 | |||
About FIF Tax in New Zealand
The Foreign Investment Fund (FIF) rules apply to NZ tax residents who hold offshore portfolio investments — shares, funds, and ETFs listed on foreign exchanges, including US-listed ETFs like VOO, VTI, and VXUS.
De minimis exemption ($50,000): If the total original cost of all your FIF interests is $50,000 or less, individuals and eligible trusts are exempt from FIF and pay tax only on actual dividends received. The threshold is measured on historical cost — not opening market value. Companies do not get the de minimis exemption.
Above the threshold you calculate deemed income using:
- Fair Dividend Rate (FDR): 5% of opening market value + any quick-sale adjustments
- Comparative Value (CV): closing + sales + dividends − opening − purchases (floored at zero)
Individuals and eligible trusts elect the lower of the two per year (all holdings on the same method). Companies must use FDR.
Revenue account method (RAM)
Since the 2025-26 income year, eligible new migrants and returning New Zealanders (non-resident for at least 5 years before becoming NZ tax resident on or after 1 April 2024) can elect a third method — the revenue account method (RAM) — for qualifying pre-residence unlisted shares. Instead of FDR's unrealised 5%, RAM taxes dividends in full plus 70% of any gain when the shares are actually sold, so there's no tax bill until a dividend or sale gives you the cash to pay it.
RAM is not covered by this calculator (it's calculated manually against your specific cost base and disposal history, not from opening/closing portfolio values) — see our FIF revenue account method (RAM) guide for the full eligibility checklist and a worked example.
Frequently asked questions
How does the $50,000 de minimis work?
If the total original cost (purchase price in NZD) of all your FIF holdings is $50,000 or less at every point in the year, you are exempt from the FIF regime. You only pay tax on dividends actually received. Important: the $50k is measured on historical cost — not on today's market value. So a portfolio originally bought for $40k that has grown to $80k is still under the threshold. Companies do not get this exemption regardless of size. The exemption can also be lost: if you include FIF income in a return while under the threshold, the FIF rules keep applying for the next 4 income years.
FDR vs CV — which should I use?
Individuals and eligible trusts may use whichever gives the lower deemed income each year — but the same method must apply across all FIF holdings for the year. FDR (5% of opening value) usually wins in strong years because it ignores capital gains. CV wins in flat or loss years because it floors at zero. This calculator picks the lower method automatically.
What is a quick-sale adjustment?
When you buy more of a FIF interest and later sell some of it in the same income year, IRD adds a quick sale adjustment to the 5% FDR amount. It is the lesser of (a) 5% × the peak holding differential × the average cost of what you bought and (b) your actual gain on the quick-sale shares. The peak holding differential is the lesser of your greatest shareholding less your opening shareholding, and your greatest shareholding less your closing shareholding (IRD guide IR461, s EX 52). Enter the figure from your broker's FIF report in the optional QSA field. QSA adds to FDR only — it does not apply under CV.
Can my company use CV?
No. Companies (including look-through companies treated as companies for FIF) must use the FDR method for FIF income and cannot elect CV. Companies are also ineligible for the $50,000 de minimis exemption. If you hold foreign shares via a company structure, FDR at 5% of opening market value always applies.
Do Australian ASX-listed shares count as FIF?
Shares in ASX-listed Australian-resident companies that keep a franking account (and are not stapled stock) are exempt from FIF; use IRD's Australian listed share exemption tool to check a ticker. US-listed ETFs (VOO, VTI, VXUS, QQQ etc.) are FIF even if they hold global shares. Check the IRD Australian exemption list for specific ASX tickers.
Sources
Related Calculators
FDR vs CV Comparison
Side-by-side worked examples to pick the lower-tax FIF method each year.
ASX Shares FIF Exemption
3-test wizard for whether your Australian shares qualify for s EX 31 exemption.
IRD Exchange Rates
Mid-month, end-of-month and rolling average rates for converting overseas currency to NZD.
Dividend Tax Calculator
Work out tax on NZ and foreign dividends including RWT and imputation.
PIE vs Direct Investment
Compare PIE funds (capped at 28%) to direct investment at your marginal rate.
Rates and rules sourced from IRD. This calculator provides an estimate for IR3 preparation — confirm final figures with your tax agent.