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Use-of-money interest (UOMI) rate change
From 29 August 2019 the UOMI rates on underpayments and overpayments of tax changed.
The new rates are:
- underpayment rate: 8.35% (previously 8.22%)
- overpayment rate: 0.81% (previously 1.02%)
Source: www.ird.govt.nz