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If you're a non resident taxpayer, you must pay tax on your New Zealand sourced income. If you have investments or a savings account in New Zealand, you'll need to pay income tax on the interest and dividends from these investments. Different types of investment have different rules and tax rates applied.

Which country do I pay tax to?

If your investment is in New Zealand, you'll pay tax here as well. However, you may also need to pay tax to your country of tax residence.

To prevent double taxation, you may receive a tax credit in one country for tax paid in another. For more information, you'll need to check if New Zealand has a double tax agreement (DTA) with this country and what it says.

If you have an investment in a country that does not have a DTA with New Zealand, we recommend that you talk to a tax agent. 

Double tax agreements (DTAs)

Credit for tax paid overseas

Types of investment

Savings accounts

If you have a savings account earning interest in a foreign country, you will need to pay non resident withholding tax (NRWT) on the interest you earn from this account. The rate of tax you pay will depend on the tax treaty between New Zealand and the other country.

You'll need to declare this income and its country of origin on your end of year Individual tax return - IR3. If you're a transitional tax resident with a temporary tax exemption, you do not need to declare this income.

Term deposits and bonds

Shares in a foreign company

Foreign retirement savings schemes (overseas pensions)

Foreign superannuation

Overseas rental properties

Tax on your overseas rental property

Foreign trusts

Trusts and tax residency