NRWT - non residents witholding tax
May 7th 2010, 3:47 am
#1
Location:West Van, BC
Thread Starter
Joined: Sep 2008
Location: Gloucestershire UK
Posts: 132
NRWT - non residents witholding tax
Trying to get some views and experiences from anyone in connection with NRWT .... many thanks.
May 7th 2010, 12:53 pm
#2
Lost in BE Cyberspace
Joined: Jun 2005
Location: In a large village called Auckland
Posts: 5,249
Re: NRWT - non residents witholding tax
In what respect, what do you need to know? Have you checked the IRD website? http://www.ird.govt.nz/forms-guides/...l?id=righttabs
All I really know is that we all pay Residents Witholding Tax (RWT) on interest received from an onshore bank. i.e. the bank deducts the tax from your interest at source and pays it over to the IRD.
Non-Resident Witholding tax is kind of in reverse - with reference to any interest you are paying to an overseas lender you can claim to have this zero rated for tax purposes in NZ.
All I really know is that we all pay Residents Witholding Tax (RWT) on interest received from an onshore bank. i.e. the bank deducts the tax from your interest at source and pays it over to the IRD.
Non-Resident Witholding tax is kind of in reverse - with reference to any interest you are paying to an overseas lender you can claim to have this zero rated for tax purposes in NZ.
May 7th 2010, 5:08 pm
#3
Location:West Van, BC
Thread Starter
Joined: Sep 2008
Location: Gloucestershire UK
Posts: 132
Re: NRWT - non residents witholding tax
In what respect, what do you need to know? Have you checked the IRD website? http://www.ird.govt.nz/forms-guides/...l?id=righttabs
All I really know is that we all pay Residents Witholding Tax (RWT) on interest received from an onshore bank. i.e. the bank deducts the tax from your interest at source and pays it over to the IRD.
Non-Resident Witholding tax is kind of in reverse - with reference to any interest you are paying to an overseas lender you can claim to have this zero rated for tax purposes in NZ.
All I really know is that we all pay Residents Witholding Tax (RWT) on interest received from an onshore bank. i.e. the bank deducts the tax from your interest at source and pays it over to the IRD.
Non-Resident Witholding tax is kind of in reverse - with reference to any interest you are paying to an overseas lender you can claim to have this zero rated for tax purposes in NZ.
May 8th 2010, 1:16 am
#4
Lost in BE Cyberspace
Joined: Jun 2005
Location: In a large village called Auckland
Posts: 5,249
Re: NRWT - non residents witholding tax
Usually if you are receive any other kind of income it is subject to New Zealand tax at the usual rates and you are required to file a Non-resident individual taxpayers (IR 3NR) return. I guess if you have not paid any tax on your interest income then you will need to file this (IR3NR)
For more information you could contact:
Inland Revenue
Non-resident Centre
Private Bag 1932
Dunedin 9054
New Zealand
Telephone: 64 3 951 2020 between 9 am and 4.30 pm (NZ time) Monday to Friday
Fax: 64 3 951 2216
Email: [email protected]
May 26th 2010, 3:05 am
#5
Location:West Van, BC
Thread Starter
Joined: Sep 2008
Location: Gloucestershire UK
Posts: 132
Re: NRWT - non residents witholding tax
If your only income from New Zealand is interest then you should advise the bank of your tax status so that they can deduct the correct rate of tax at source and then you do not need to to file a non-resident return.
Usually if you are receive any other kind of income it is subject to New Zealand tax at the usual rates and you are required to file a Non-resident individual taxpayers (IR 3NR) return. I guess if you have not paid any tax on your interest income then you will need to file this (IR3NR)
For more information you could contact:
Inland Revenue
Non-resident Centre
Private Bag 1932
Dunedin 9054
New Zealand
Telephone: 64 3 951 2020 between 9 am and 4.30 pm (NZ time) Monday to Friday
Fax: 64 3 951 2216
Email: [email protected]
Usually if you are receive any other kind of income it is subject to New Zealand tax at the usual rates and you are required to file a Non-resident individual taxpayers (IR 3NR) return. I guess if you have not paid any tax on your interest income then you will need to file this (IR3NR)
For more information you could contact:
Inland Revenue
Non-resident Centre
Private Bag 1932
Dunedin 9054
New Zealand
Telephone: 64 3 951 2020 between 9 am and 4.30 pm (NZ time) Monday to Friday
Fax: 64 3 951 2216
Email: [email protected]
