FIF deemed rate of return set for 2013–14
Hon Todd McClay
26 June 2014
rate of return set for 2013–14
Todd McClay has announced that the deemed rate of return for
taxing foreign investment fund (FIF) interests has been set
at 7.99% for the 2013–14 income year, up from 6.91% for
the previous income year.
The deemed rate is set annually
and is one of the methods that can be used to calculate
income from FIF interests.
The rate is based on an average
of the five-year Government bond interest rate at the end of
each quarter, plus a 4% margin.
The rate was set by Order
in Council earlier this
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Pukeahu Park : ANZAC 100th Anniversary Dawn Service In Pictures
Roughly 18,000 people gathered this morning at Pukeahu Memorial Park for the Anzac day centenary. Anticipating the large turnout, patrons arrived as early as 4.30. It was virtually impossible to get near the Memorial after 5am. By 6, the crowds on Taranaki Street had stretched as far back as the Z Petrol station.
The screens erected around the park displayed the live events to those who had turned up. The heat generated by the huge number of people caused many to take a turn. Medics and ambulances were on hand for the fainting crowd members. Only twenty minutes into the ceremony, one medic said they had already dealt with 15 to 20 spells. More>>
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