New Zealand Inland Revenue has announced that the deemed rate of return for taxing foreign investment fund interests has been set at 8.63% for the 2023-24 income year, up from 8.15% for the 2022-23 income year. A special report explains the deemed rate of return as follows:

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Deemed Rate of Return for Attributing Interest on Foreign Investment Funds 2023-24 Income Tax Year

The deemed ra…