Bits & Pieces

UOMI rates increase

Effective 30 August 2022, UOMI rates will increase as follows:

Interest on unpaid tax from 7.28% to 7.96%
Interest on overpaid tax paid by Commissioner from 0% to 1.22%.

FDR Determination

An investment by a NZ resident investor in units in the Two Trees Global Equity Macro Fund – Class Z, to which none of the exemptions in section EX 29 to 43 of the Income Tax Act 2007 apply, is a type of attributing interest for which the investor may use the Fair Dividend Rate method to calculate Foreign Investment Fund income for the interest.

August 2022