Deemed rate of return set
The deemed rate of return for taxing foreign investment fund interests has been set at 10.87% for the 2007-08 income year, up from 10.27% for 2006-07, Revenue Minister Peter Dunne announced today.
"The deemed rate of return is set annually and is based on an average of five-year government stock, to which a 4% margin is added," Mr Dunne said.
"It is one of the methods that can be used to calculate income from foreign investment fund interests," he said.
The new rate was set by Order in Council today.
Contact: Rachel Baxter, Revenue Advisor, Tel: 04 471 9728