Whai Rawa operates under the Retirement Scheme Contribution Tax (RSCT) rules. Basically this means Te Rūnanga will deduct the tax on contributions it makes into Whai Rawa (such as distributions and matched savings) at the member’s RSCT rate.
For NZ resident members who have provided their IRD number and correct RSCT rate, the RSCT deduction is a final tax. This means those members will not be required to pay any further tax on their contributions from Te Rūnanga and will not have to file tax returns in relation to these contributions. Work out if you are on the correct rate on the RSCT chart below then if required update your rates online or contact us to update your rates.
If you are not a NZ tax resident or are unsure whether you are, find out more.