What is withholding tax?
Withholding tax is tax that is deducted from interest that you earn from ASB Bank. ASB Bank pays this tax to Inland Revenue on your behalf. The types of withholding tax are Resident Withholding Tax (RWT) and non-Resident Withholding Tax (NRWT). Approved Issuer levy may be paid as an alternative to NRWT.
If you hold an Inland Revenue certificate of exemption then withholding tax may not apply to you.
What is Resident Withholding Tax (RWT)?
Resident Withholding Tax is the tax deducted on interest paid to New Zealand tax residents on their deposit accounts.
What is Non-Resident Withholding Tax (NRWT)?
Non-Resident Withholding Tax is the tax deducted on interest paid to non-New Zealand tax residents on their deposit accounts.
What is Approved Issuer Levy (AIL)?
Approved Issuer Levy is a levy paid by non-New Zealand tax residents on their deposit accounts.
What is the default tax rate?
If you are a New Zealand tax resident the default rate is 33%. If you are a non-New Zealand tax resident the default rate will be the withholding tax rate for your chosen country of tax residence.
If you have chosen to receive your statement electronically, and monthly fees apply to your account, you can see your ...
No-one likes paying bank fees such as an unarranged overdraft fee. We can help you avoid them with some simple ...
It is best for you to let ASB know of the death as soon as possible. Holds will be placed ...
Additional or supplementary card fees are charged for each additional card linked to your credit card account. These are charged ...
Is there a cash handling fee for foreign note deposits and withdrawals to or from a Foreign Currency Account (FCA)?Currently the bank charges 1% of the foreign amount or a minimum of NZ$10.
Yes, attempting to withdraw more money than you have in your account is treated as a request for an unarranged ...