Your resident withholding tax (RWT) rate is based on your taxable income, and there are different rates for individuals, trusts, companies and partnerships. You can find the current RWT rates on the Inland Revenue (IRD) website.
You should provide us with or change your RWT rate that’s appropriate to your level of taxable income. Selecting a rate that is too low may mean you have an end of year tax liability.
You should provide us with your resident withholding tax (RWT) rate and your IRD number when you open an account with us via your Aera member’s app My Profile → Tax Settings, or you can contact us via our live Help Chat in the App or email support@aera.nz.
You should also let us know when your RWT rate changes. Selecting a low RWT rate may mean you have an end of year tax liability and if you don’t provide us with your IRD number, we are required to deduct RWT at the non-declaration rate of 45%.
Note: The information on this page relating to tax rates is general in nature and does not constitute tax advice to any person. We recommend you obtain independent tax advice for your own circumstances.