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How is interest paid?

Written by Support Team

Interest is calculated daily and paid monthly on the balance of applicable currencies.

Resident Withholding Tax (RWT) is deducted monthly from the interest earned on relevant currencies and converted into New Zealand Dollars for payment to the Inland Revenue Department (IRD) on the same day, using a margin-free rate approved by the IRD.

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.

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