Resident Withholding Tax

Last updated: 23/08/2017 04.35 PM

What is Resident Withholding Tax?

Resident Withholding Tax (RWT) is a tax that ANZ has an obligation to withhold from certain payments of investment income - including interest or dividends - to New Zealand resident customers or third parties. Any RWT withheld by ANZ is paid to Inland Revenue on the recipients behalf.

The rate at which RWT is deducted, will depend on the tax rate that the recipient of the payment has elected, and that is recorded by ANZ, at the time the interest or dividend payment is made. The elected RWT rate, of either 10.5%, 17.5%, 28%, 30% or 33%, should be consistent with the recipients income tax rate. When no RWT rate is elected a default rate of 33% will be withheld by ANZ.

In some circumstances a rate of 0% can be elected.

Please contact us if you would like to find out or change your elected RWT rate.

For more information visit the IRD website:

Contact us

By phone

on 0800 269 296

6am to 12 midnight,
7days a week


Contact us online

Visit an ANZ branch

Find your nearest branch