What is Resident Withholding Tax (RWT)?
Resident Withholding Tax is the tax deducted on interest paid to New Zealanders on their deposit accounts.
If you are not a New Zealand tax resident, you may elect to have Non-Resident Withholding Tax or Approved Issuer Levy at a rate of 2% deducted from interest payments:
What is Non-Resident Withholding Tax (NRWT)?
Non-Resident Withholding Tax is the tax deducted on interest paid to non-New Zealand residents on their deposit accounts.
What is Approved Issuer Levy (AIL)?
Approved Issuer Levy is a levy paid by non- New Zealand 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 and have advised ASB of your country of tax residence, the default rate will be the withholding tax rate for that country. If you have not advised ASB of your country of tax residence the 33% rate will apply.
You'll simply need both an eligible ASB transaction and savings account. If you want your Save the Change savings to ...
When you make an overseas transfer from your account, you have the option for any fees relating to the transfer ...