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I come from a country with a plethora of types of taxes for investments. Different investments have different types of taxes and/or different rates.
I would like to know if it's the same in New Zealand, I have a savings account investing in I-don't-know-what, but I'm thinking about changing for a term investment that has a better interest rate, so I'd like to know if I'd be paying the same tax rate.
The simple answer is probably. Your bank will deduct the relevant tax before paying you the interest, based on your personal tax situation. The only time they will deduct a different tax rate is for a PIE (Portfolio Investment Entity) type account. For example, here's a page from Kiwibank that explains PIEs from a consumer perspective in simple terms: https://www.kiwibank.co.nz/personal-banking/investments/pie-funds/
