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What RWT rate should I use?

Use this simple guide to confirm your Resident Withholding Tax (RWT) rate - it'll only take a few seconds.

If you don't let us know your IRD number or RWT rate, you will be taxed at the default rate of 33%.

From 1 April 2020, the IRD is increasing their non-declaration rate to 45% for those customers who have not supplied their IRD number. However, if you've supplied your IRD number, but not your RWT rate, RWT will still be deducted at the default rate of 33%.

Before you start you'll need to know what your expected taxable income for this tax year will total. This amount will include pre-tax salary and wages, pre-tax interest income, net business income, and deductible expenses/losses. If you are unsure of your income we recommend that you contact your employer(s), your accountant, or Inland Revenue on 0800 377 774.

Select the statements below which apply to you.

The information shown in this calculator is intended as a guide only and does not constitute tax advice to any person. To the extent permitted by law, ASB Bank Limited makes no warranty and accepts no liability in respect of your use of this calculator