Money Maker Limited (MML), a New Zealand tax resident company, pays a fully imputed dividend in September
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Question:
Money Maker Limited (MML), a New Zealand tax resident company, pays a fully imputed dividend in September 2021. One of the dividend recipients is Tanira, who is not a New Zealand tax resident. The net dividend paid to Tanira is $9,870. Tanira owns less than 10% of the shares in MML. Under the relevant double tax agreement (DTA), the dividend withholding tax is limited to 15%.
What is MML's non-resident withholding tax (NRWT) liability in relation to the dividend paid to Tanira? Ignore the implications of the foreign investor tax credit regime.
A. | $987. | |
B. | $2,764. | |
C. | $2,056. | |
D. | $1,481. |
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