In line with the recent announcement from the government, for the period 1st April 2009 to 31st March 2010, we will apply the reduced top Resident Withholding Tax (RWT) rate of 38% (down from 39%).
As customers you don’t need to do anything as we’ll be handling it from our end.
For those of you who have yet to commit to joining RaboPlus, in the interim the account opening form still shows 39% however we shall process this at the new 38% rate. We need some time to change our account opening form but are obviously not letting that delay us implementing the reduced tax rate.
For more information visit the IRD website.