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FIF deemed rate of return set for 2013-14

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Fuseworks Media
Fuseworks Media

Revenue Minister 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 week.

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