We have introduced a new online RWT exemption register that lists the IRD number of all persons and organisations who are exempt from having RWT deducted from the interest and dividends they receive.
From 1 April 2020, payers of investment income (eg interest and dividends) will need to access the register to confirm which of their customers have RWT exempt status. They will no longer ask for or accept physical certificates of exemption for RWT.
If you currently have RWT exempt status, you will automatically be on the register.
Charities registered with Charities Services will no longer need to apply for RWT exempt status. From 1 April we will automatically put them on the register.
At the beginning of April, we will also automatically add to the register all organisations recorded as “charitable” for income tax in our system that don’t already have RWT exempt status. These organisations do not need to apply.