If you have an exemption from RWT deducted from interest and dividends, this is known as having RWT exempt status.
Before 1 April 2020, we issued successful applicants with a certificate of exemption from RWT. A list of cancelled and reissued certificates of exemption was published quarterly in the New Zealand Gazette.
We have now introduced an online RWT exemption register.
Resident withholding tax exemption register
What's changed
From 1 April 2020 we no longer:
- issue certificates of exemption for RWT
- publish cancelled and reissued exemptions in the New Zealand Gazette.
Instead, your IRD number is added to the online register, which:
- is automatically populated by us
- identifies customers only by their IRD number
- can be searched by exemption status, IRD number and when the information was last updated
- is updated overnight every business day (Monday to Friday).
If you had a current RWT exempt status before 1 April 2020, you will have been automatically included on the register unless:
- your exemption has been cancelled, has expired or is revoked
- you are exempt under an Act other than the Tax Acts and have not been approved under another criteria.
Exemptions under other Acts
If you are exempt from RWT under an Act other than the Tax Acts, you may need to apply to us to be granted exempt status and be included on the electronic register.
To do this, check the register to see if you are already included. If you are, you already have an exemption. If you are not included on the register you can apply for an exemption.
Charities
If you are a charity registered with Charities Services you do not need to apply for RWT exempt status. We will automatically put you on the register.
Applying for RWT exempt status
You can apply for RWT exempt status. We will tell you when you are added to the register and, if applicable, what the expiry date for your exemption is.
If your exemption is due to expire, you can reapply if you want to keep RWT exempt status.
You are responsible for notifying us if you no longer meet the criteria for an exemption, unless you're a deregistered charity. We will update your status and the register.
Check that your payer, for example your bank, knows about any changes to your exempt status.
Apply for a resident withholding tax exemption
What this means for payers of investment income
If you are a payer of investment income you will need to access the electronic register to confirm which of your customers have RWT exempt status and update your systems. The register provides near real-time information which you can download into Excel.
When you've been charged RWT and you have an exemption
If you’ve had RWT deducted from a payment made to you but you have an exemption, you can request a refund by filling out the IR454 form.
