Your Result
Non Residents
If you are a non-resident you can choose to have either of the following deducted from your interest. Under both options there is no further tax to pay in New Zealand. However you may have to pay tax in your country of residence on the interest received in New Zealand:
Non-Resident Withholding Tax (NRWT) at the rate of 10% or 15%, depending on your country of residence. If NRWT is deducted in New Zealand you will likely receive a tax credit for this in your own country's tax return. Therefore you should only have to pay the difference between tax at your country's rate and the amount of NRWT deducted in New Zealand.
Approved Issuer Levy (AIL) at a rate of 2%. If you have AIL deducted you will not receive a tax credit for this and will have to pay full tax (if any) in your own country's tax return. The AIL only eliminates your New Zealand NRWT liability.