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  1. #1
    Member Mr Browning's Avatar
    Join Date
    Dec 2018
    Location
    Christchurch
    Posts
    741

    We need your IRD number and RWT rate

    Hi

    To get the most from your savings with us, we need your IRD number and Resident Withholding Tax (RWT) rate, so you're paying the right amount
    of tax.

    Upcoming changes from Inland Revenue mean that if we don't have your IRD number by 1 April 2020, the RWT rate on interest you earn will increase
    from 33% to 45%. To make sure that doesn't happen, please reply to this secure Bank Mail with your IRD number and RWT rate.

    If you're not sure what your IRD number is, you can:
    * Look on your employment payslip, KiwiSaver statement, or letters or statements from Inland Revenue, or;
    * Contact Inland Revenue by logging into your myIR Secure Online Services account or by phoning 0800 227 774 (or +64 4 978 0779 from
    overseas).

    Your RWT rate is based on your total taxable income for the tax year.
    Please note: if you provide us with your IRD number but not your RWT rate, you'll pay RWT at the individual default rate of 33%.

    ANZ can't provide tax advice, but for more information including how to work out your RWT rate, visit the Inland Revenue website
    ird.govt.nz/interest or you may wish to speak with your tax professional, lawyer or other adviser.

    Yours sincerely
    The team at ANZ
    This is all part of IRDs bigger plan. Their next step once they have your IRD number is to make a law that all banks have to provide your bank statement direct to IRD so IRD can track every penny that goes in and out of your bank in order to make sure any money made is being taxed and being obtained legally.
    My accountant told me last year this is what they are planning. Fortunately, when he does my books, he claims all my over paid interest tax back, but for those who dont here is a heads up of what our scummy govt friends in IRD are doing.
    This is simply about controlling you and controlling your finances.
    GUN CONTROL IS A TIGHT 5-SHOT GROUP.

  2. #2
    Member
    Join Date
    Jan 2018
    Location
    South of the Bombay Hills
    Posts
    1,050
    Fuggem and the horses they rode into town on.

  3. #3
    Member northdude's Avatar
    Join Date
    Apr 2013
    Location
    north auckland area
    Posts
    6,471
    Speaking of ird has anyone had an assessment sent ro them every one ive talked to it has been a fuk up mine over what my return was and the person rhat helps me with mine has been spot on in the past

  4. #4
    Just like Mimms the First
    Join Date
    Sep 2019
    Location
    Tai Tokerau
    Posts
    242
    The IRD has always had the knowledge of your bank balances. "You pay" (they take) tax on interest paid. Very simple calculation from that to bank balance!
    Further, I'm not 100% on the behind the scenes, but benefits, child support, court fines etc all have access to "your" account.

  5. #5
    Member
    Join Date
    Apr 2012
    Location
    Kingcountry
    Posts
    1,821
    If your on PAYE don't think you do a return any more. They get the details from your employer, banks and any other investments and do the calculating on your behalf. Got a note from my accountant stating he couldn't do it on my behalf any longer.

  6. #6
    Member
    Join Date
    Mar 2012
    Location
    New Zealand
    Posts
    129
    I bank with two banks, both had my IRD number and took out directly any RWT from any interest earned from all accounts held no matter how dismal that amount may be - and that was done many years ago. The last year tax return now automatically have your RWT details paid from all sources listed, inputted into your return. Doing a tax return online is a breeze, can adjust one's provisional tax in real time if you are self employed and not be stung for under payment or overpaying if projections don't meet expectations.

  7. #7
    Member
    Join Date
    Feb 2013
    Location
    spreydon christcurch.
    Posts
    4,348
    ah well now im deep in the doodoo .as of 1000hrs today Im part of the old farts clubso with me pension arriving each fortnight ,IRD will get two nips of tax outta me.
    bugger all i can do about it though!might as well suck it up and enjoy it -doesnt make me any more enamoured toward 4eyes robertson and the COL.

  8. #8
    Just like Mimms the First
    Join Date
    Sep 2019
    Location
    Tai Tokerau
    Posts
    242
    Quote Originally Posted by kotuku View Post
    ah well now im deep in the doodoo .as of 1000hrs today Im part of the old farts clubso with me pension arriving each fortnight ,IRD will get two nips of tax outta me.
    bugger all i can do about it though!might as well suck it up and enjoy it -doesnt make me any more enamoured toward 4eyes robertson and the COL.
    And no doubt the higher of the two will be taxed as secondary income, so about 55% will be taken from that alone. Plus the tax on fuel (100 and something percent) liqour and cigarettes (similar) GST on top of all of that (15%)
    ...Who do you really work for?!

  9. #9
    Member
    Join Date
    Jul 2012
    Location
    Tauranga
    Posts
    1,053
    At present joint accounts only have provision to align to one IRD# read that a few times and let it sink in.

  10. #10
    Member Magnus's Avatar
    Join Date
    Nov 2018
    Location
    wellington
    Posts
    250
    Name:  images (17).jpeg
Views: 133
Size:  28.2 KB

    Yep our govt don't wanna miss out on anything.
    Drink Beer.

  11. #11
    Member
    Join Date
    Feb 2013
    Location
    spreydon christcurch.
    Posts
    4,348
    yes quite well aware of that thank you and i do know who i work for .kind gent at winz took wife& I through the tax issue -great because we'd initially been wrong.
    as for tax -being a nurse and shiftworker for nigh on 50yrs i do know about hefty fucking tax takes -regardless of having to do shifts and overtime to cover NZs nursing shortage!
    If i need a gospel Ill call the vicar.

 

 

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