New RWT Rate Available
From 1 April 2021 a new top tax rate of 39% was introduced for individuals who earn over $180,000 in a year.
Now that the 1 October implementation date has passed, if you earn over $180,000 you need to update your RWT deduction rate with your bank or other interest income provider.
Most banks enable customers to self-select the appropriate rate through their online banking portal, so you should check that option first before contacting your bank.
