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If you deduct and pay non resident withholding tax (NRWT) then you'll need to use the right rate.

NRWT rates are decided by double tax agreements. You'll need to deduct NRWT at the rate that applies to the area you're sending passive income to.

Areas without double tax agreements

You'll need to use higher deduction rates if you:

  • send passive income to a person travelling
  • send passive income to an area that does not have a double tax agreement with New Zealand
  • do not know the area you are sending passive income.

The rates for these areas are:

  • 15% for interest and royalties
  • 30% for dividends.