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Deemed Rate Of Return For Foreign Investment Fund
21 May 2002 Media Statement
Increase In Deemed Rate Of Return For Foreign Investment Fund Interests
The
deemed rate of return for foreign investment fund interests
has increased from 10.29 percent to 10.46 percent for the
2001-02 income year, Revenue Minister Michael Cullen
announced today.
The foreign investment fund rules tax New Zealand residents on undistributed profits arising in foreign entities in which they have invested but do not control.
The rate, which is set annually, applies to all types of investments, including interests in superannuation schemes and life insurance policies. It is based on an average of five-year government stock rates to which a margin of 4 percent is added.
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