Your Trusted
Business Advisor

Our location

Location

2nd Floor, 31-33 Great South Road, Newmarket, Auckland
PO Box 128369, Remuera, Auckland 1541
Phone: 09 524 4556
Fax:      09 523 1748
Emailinfo@trustaccountants

 

 
             




                
   



Tax Facts - Resident Withholding Tax (RWT)

Resident Withholding Tax (RWT) is a tax deducted on interest earned from investments and bank accounts.  The investment organisation or bank deducts this tax when they credit interest to you.

Companies may also deduct withholding tax from dividends paid to shareholders.

If you receive interest as income you need to:

  • Provide the interest payer with your IRD number, and
  • Advise the tax rate they should use when they deduct this tax

The RWT tax rate used will vary for individuals and different types of business entity.

For more information on RWT and how this tax applies to interest and dividends refer to the Inland Revenue website

Supplied by CCH Business Fitness NZ

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