You can apply for an exemption from paying RWT if you:
- have earned or think you'll earn more than $2 million a year, or
- can prove you’ll have losses, or an RWT refund, of $500 or more.
Tell your payer (bank or fund manager) if you have a certificate of exemption, and what the expiry date is.
When we can cancel your exemption
We might cancel your certificate of exemption if you:
- gave misleading information in your application
- no longer meet the conditions it was issued for
- do not meet the $2 million target (if applicable) or give us satisfactory evidence of your income
- do not pay your income tax by the due date.
We'll tell you if you we cancel your exemption. You’ll need to tell your payer within 5 working days.