All Cash Account holders pay Resident Withholding Tax (RWT) on any interest that is earned in their Cash Account.
If you do not advise Invest Direct of the tax rate to be applied to your investment, RWT will be deducted at the highest rate of 33% where you have provided us with your IRD number. If you have not provided your IRD number, RWT will be deducted at the default rate which is currently 45%.
Please note: that Invest Direct is unable to give advice on tax-related matters. We suggest you seek independent taxation advice from your tax adviser or accountant.
What tax do I have to pay on interest earned from my cash account?
Written by Support Team