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Deemed rate of return set for 2005-06
Tuesday, 25 July 2006
Deemed rate of return set for 2005-06
The deemed rate of return used for taxing foreign investment fund interests for the 2005-06 income tax year has been set at 9.82 percent, down from 10.17 percent last year, Revenue Minister Peter Dunne announced today.
The deemed rate of return applies to all types of investments, including interests in superannuation schemes and life insurance policies, for which the deemed rate of return method is used.
It is set annually and is based on an average of five-year government stock rates to which a 4 percent margin is added.
The new rate was approved by Order in Council yesterday.
ENDS
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