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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 IRD website

Supplied by CCH Business Fitness NZ

New Associate

We are pleased to welcome Tim Bathgate as an Associate.  With agri and business qualifications and over six years' experience with the firm, Tim is a great fit in our agri, forestry and business team.

Tim joins Carolyn Mills as the latest additions to the Shand Thomson advisory team.

CONTACT US

Balclutha Office
102 Clyde Street, Balclutha
Find us on the map
P. 03 4180020
E: accountants@shandthomson.co.nz
Dunedin Office
7th Floor Westpac Building,
Cnr Moray Place & George Street, Dunedin
Find us on the map
P. 03 4741394
E: accountants@shandthomson.co.nz

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