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Top 10 facts on international tax

  1. New Zealand residents are generally taxed on their worldwide income.
    Find out more about tax residency and status
  2. If you leave the country but maintain a permanent place of abode here, then you will still be a New Zealand tax resident.
    Find out more about when you are considered to be a tax resident of New Zealand
  3. Foreign income (even if deposited in an offshore account or left on a foreign credit card) does not need to be repatriated to New Zealand to be taxed here.
    Find out more about if you have overseas investments
  4. Even if withholding tax has been deducted on foreign income this does not mean that this income is no longer taxable in New Zealand.
    Find out more about paying tax in New Zealand
  5. A foreign tax credit may be available where the tax involved is substantially similar to New Zealand income tax. The tax credit cannot exceed the tax otherwise payable on the underlying income in New Zealand.
    Find out more about what income is taxable in New Zealand
  6. Most overseas pension payments are fully taxable in New Zealand.
    Find out more about how double tax agreements affect your overseas pension
  7. Special taxing regimes (controlled foreign company (CFC) and foreign investment fund (FIF) rules) apply to gains on certain foreign shareholdings, retirement schemes and life insurance investments.
    Find out about foreign investment fund (FIF) & controlled foreign company (CFC) rules
  8. Disclosures are required in respect of controlled foreign companies and foreign investment funds.
    Find out more about making a controlled foreign company (CFC) disclosure
  9. Allowances that may be treated as tax-free in other countries (for example, living-away-from-home allowances) are generally fully taxable in New Zealand.
    Find out more about what allowances are tax free and what allowances are taxable in New Zealand
  10. The temporary tax exemption on foreign income for transitional residents expires after four years and there is no entitlement to Working for Families Tax Credits during the period of the exemption.
    Find out more about the temporary tax exemption on foreign income for new migrants and returning New Zealanders

For more information, visit our International section