Withholding on an individual’s interest starts at 10.5%, not 28%
RWT rates for individuals are 10.5 / 17.5 / 30 / 33 / 39% depending on income; 28% applies to companies. There is no new rule: the discrepancy is old. The RBNZ kept the OCR at 2.75% on October 28, 2026; the next decision is on December 9, 2026.
What this changes in the calculation
Deposit, government and corporate bonds were 28 to 39%, become 10.5 to 39%; fund unchanged.
- Source
- ird.govt.nz
- Status
- verified
- Published