Resident Withholding Tax is an area that is often misunderstood. The deduction of RWT on interest paid on borrowed funds (often family money) must be accounted for regularly to IRD. This applies when the interest paid exceeds $5000 per annum. The regular processing and then reconciliation of interest to 31 March (and to any non standard balance date) requires attention to detail. We are able to offer regular and timely assistance with RWT.
