Bank Interest- RWT and implications

[blackcap]

No the $30.66 is the Gross interest which you have been credited with. The RWT is then deducted and sent to IRD. The rate is 45% because the bank do not hold the IRD number.

Thanks,

I will check with another account where I know they hold my IRD number.

It seems you are correct. The Withholding amount is 33% on my personal account.

(The example I gave came from a recently incorporated company account and it is possible IRD number has not yet been provided to the bank)