Foreign investment fund interest rate set
The deemed rate of return for taxing foreign investment fund interests has been set at 8.52 percent for the 2010/11 income year, down from 9.12 percent the previous income year, Revenue Minister Peter Dunne said today.
The deemed rate of return for taxing foreign investment fund interests has been set at 8.52 percent for the 2010/11 income year, down from 9.12 percent the previous income year, Revenue Minister Peter Dunne said today.
The deemed rate is set annually and is one of the methods that can be used to calculate income from foreign investment fund interests.
The rate is based on an average of the five-year government stock rate at the end of each quarter, with a four percent margin added.
The rate was set by Order in Council yesterday.
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