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What will this mean for you?

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Receiving more information more frequently from payers of investment income, such as banks, will enable Inland Revenue to improve its services to you in the following ways:

  • Your records could be prepopulated
  • Tax rate selected could be reviewed to check whether tax is being deducted at the right rate for the recipient
  • Social policy payments could be more accurately calculated.

Changes are also proposed to:

  • The non-declaration rate
  • Date of birth information
  • How income is allocated among owners of joint investments (see joint investments for further information).

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