{"id":8684,"date":"2019-01-25T12:18:55","date_gmt":"2019-01-25T12:18:55","guid":{"rendered":"http:\/\/williambuck1.wpenginepowered.com\/nz\/?page_id=8684"},"modified":"2024-11-12T22:21:20","modified_gmt":"2024-11-12T09:21:20","slug":"resident-withholding-tax-rwt","status":"publish","type":"page","link":"https:\/\/williambuck.com\/nz\/tax-facts\/resident-withholding-tax-rwt\/","title":{"rendered":"Resident Withholding Tax (RWT)"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]Resident Withholding Tax is tax deducted on the payment of dividends and interest.<\/p>\n

\n

The tax is deducted on the payment date and not the date the interest was earned.<\/p>\n

If the recipient of interest has a certificate of exemption, then no withholding tax is deducted.<\/p>\n

The withholding tax required to be deducted on the payment of dividends to New Zealand resident shareholders is 33%, less any imputation credits attached to the dividends.<\/p>\n

The withholding tax required to be deducted from interest is based on the rate chosen by the recipient, on the basis that the recipient has provided an IRD number.<\/p>\n

Individuals, Trusts & Maori Authorities<\/strong><\/p>\n

The rates from 1 April 2020 are:<\/p>\n\n\n\n\n\n\n\n\n
If the investor has \u2026<\/strong><\/span><\/td>\nAnd is \u2026<\/strong><\/span><\/td>\nThen deduct RWT at \u2026\u00a0<\/strong><\/span><\/td>\n<\/tr>\n
Chosen a rate<\/td>\nAn individual, a testamentary trust, or\u00a0trust<\/td>\n10.5%, 17.5%, 30% or 33%<\/td>\n<\/tr>\n
Chosen a rate<\/td>\nA trust or a Maori authority<\/td>\n17.5%, 30% or 33%<\/td>\n<\/tr>\n
Not chosen a rate for an\u00a0existing\u00a0account<\/td>\n<\/td>\nThe default rate of 17.5%<\/td>\n<\/tr>\n
Not chosen a rate for a\u00a0new\u00a0account<\/td>\n<\/td>\nThe default rate of 33%<\/td>\n<\/tr>\n
Not provided a valid IRD number<\/td>\n<\/td>\nThe non-declaration rate of 45%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/strong>Companies<\/strong><\/p>\n

The rates from 1 April 2020 are:<\/p>\n\n\n\n\n\n\n
\u00a0If the investor has \u2026<\/strong><\/span><\/td>\nAnd they are \u2026\u00a0<\/strong><\/span><\/td>\n\u00a0Then deduct RWT at \u2026\u00a0<\/strong><\/span><\/td>\n<\/tr>\n
Chosen a rate<\/td>\nUsing a valid IRD number<\/td>\n28% or 33%<\/td>\n<\/tr>\n
Not chosen a rate<\/td>\nUsing a valid IRD number<\/td>\nThe default rate of 28%<\/td>\n<\/tr>\n
Either\u00a0provided an invalid,
\nor no IRD number<\/td>\n		<\/td>\nThe non-declaration rate of 45%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Partnerships<\/strong><\/p>\n

If the partnership\u2019s IRD number is given to the interest payer, you may choose any of the rates that would apply as if the account were held in a partner\u2019s name.<\/p>\n

 <\/p>\n

Back to Tax Facts<\/a><\/p>\n<\/div>\n

[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

[vc_row][vc_column][vc_column_text]Resident Withholding Tax is tax deducted on the payment of dividends and interest. The tax is deducted on the payment date and not the date the interest was earned. If the recipient of interest has a certificate of exemption, then no withholding tax is deducted. 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