Kingfish dividends different to my Statement

Hi I hold some shares in Kingfish and in Barramundi.
In most cases my dividend statement differs to the divedend shown on sharesight and the taxable income report.
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  • Hi John,

    There are a couple of reasons why the dividend calculation might not match your dividend statement.

    Firstly the dividends are calculated against the quantity of shares that you have recorded in your portfolio so if the quantity is incorrect then this will mean that the calculated dividend amount is also incorrect.

    Assuming that your quantities are correct then it may be an error in the dividend data that we receive. We have to rely on NZX data to calculate these dividends and we know that occasionally the data is not quite right, particularly the RWT amount that is calculated. If you can provide me with some specific information about the Sharesight values vs your dividend statement we can investigate further (please email this information to me directly scott@sharesight.com)

    Please rely on the data on your dividend statement over the automatically calculated data in Sharesight. If these is any difference please click to edit the dividend record in Sharesight and update it before using the Sharesight reports for tax purposes.
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  • Hi John & Scott
    I think this problem comes about for these two funds (and also Marlin) because they are listed PIE's and they are also (presently) distributing via dividends more than they are earning (distributing a fixed %age of their NTA each quarter). So I think part of the dividend (Excluded Income?) is not taxable because the tax has already been paid by virtue of the fund being a PIE however part of the dividend is not covered by the normal PIE tax arrangements and is taxable..
    Presently I solve this problem in sharesight by manually splitting the dividend payment into two entries to reflect the two types of payment (manually creating a second entry).
    I think this challenge could potentially affect any NZ listed PIE.
    • Thanks for this information. Upon further investigation, the issue looks to be the RWT that is calculated. Because they are PIE funds RWT is not deducted at source (rather you are taxed at your PIR rate).

      Unfortunately our NZX data assumes that RWT has been deducted at the default 33% rate, which is not correct for a PIE dividend. We are currently looking into running some adjustments to correct the data for these funds.

      In the meantime you should find that if you zero out the RWT amount and add this value back to the net dividend then the amount will match your dividend statement.
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