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Questions tagged [new-zealand]

For questions that relate to the laws, practices, and products of New Zealand.

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0answers
21 views

Living in New Zealand, working remotely for an Australian company - taxes go where?

I am a British citizen, currently residing in New Zealand under a 5 year Work Visa and for the past year have been working for a New Zealand based company. I am just about to change jobs to work ...
1
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1answer
47 views

I had a tax return completed in Australia and New Zealand and have been taxed in both. How does this work?

I moved of to Australia part way through the tax year and then returned to New Zealand and worked. When I filed my tax return, it was automatically complete in New Zealand due to the IR3 file, but a ...
108
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10answers
38k views

Someone wants me to use my credit card at a card-only gas/petrol pump in return for cash

I was at a petrol station in rural New Zealand at the weekend which only accepted payment via the automated card reader on the forecourt. After I had filled up, a young woman approached me and asked ...
4
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0answers
72 views

When should I expect to see payroll details on ird.govt.nz?

My daughter had two jobs in the second half of last year. The first was a very dodgy outfit that extended her shifts without notice, wouldn't let her take her breaks, and, I suspect, hasn't paid any ...
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0answers
11 views

What are my options for cashing out or consolidating my Kiwisaver and Australian Super?

I am a New Zealand citizen who has been contributing to Kiwisaver for the last five years in New Zealand, and have since moved to Australia, where I am making Australian Super contributions here. I'...
1
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1answer
61 views

Can I claim management fee as business expense?

Location is New Zealand. I have an agency that looks after a rental property for me, and they charge me management fee every two weeks. The tenants pay the agency rent, the agency deducts their ...
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2answers
126 views

How should I think about salaries in New Zealand relative to the United States? [duplicate]

Let's imagine I live in the United States and make about 100,000 USD. If I move to New Zealand for a few years, I expect to make about the same, but denominated in New Zealand dollars. That is, make ...
2
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0answers
78 views

Capital gains and income

When capital gains are not considered as an income (as per New Zealand Income Tax Law to be precise) then why capital gains/losses end up in an income statement to calculate net income? Does that look ...
4
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1answer
337 views

Remote work done in New Zealand while on a Working Holiday Visa - who do I pay tax to?

I was in New Zealand on a working holiday visa in early 2017 for about nine weeks - across the last few weeks I was there, I did some remote software development work for a few different clients, all ...
4
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1answer
118 views

Deducting interest on a loan to repair a rental property

I own and rent out an apartment in a building that needs extensive repairs. The body corporate has broken the levy for the repairs into six payments. For the first three payments, last tax year, I ...
2
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2answers
139 views

tax on side income and expenses in new zealand

Got a couple of really basic tax questions. I'm looking to register as sole trader to sell some woodworking projects and to have a small side income trading under a trading name. I also have a full ...
2
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0answers
67 views

How can you mortgage a house owned by a family trust?

My wife and I are doing some planning, and one of the options that has been suggested to us is to put the family home in a family trust. There seems to be no problem having a mortgage on the house ...
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0answers
217 views

Australian Tax Digital Nomad

I am a NZ citizen working for an Australian company being paid into an Australian bank account through an Australian tax number and visiting Australia every 4-6 weeks for 3-4 days work related. I ...
1
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0answers
188 views

Family member wants to gift me money from an account in a different country

Years ago my mother invested some money I made doing some acting as a kid in a bank account in New Zealand under her name. Both her and I live in Canada. We are both also Canadian/New Zealand Citizens....
3
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1answer
217 views

Why do I need to specify exactly what a personal loan is for?

I'm looking at getting a personal loan for a variety of reasons, some good, some not great. I don't know about the rest of the world but in New Zealand they seem to want to treat me like an idiot ...
1
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1answer
62 views

Do personal bank loans affect credit score more than collection notices?

I have a (hopefully) simple question. In terms of a credit check (for a mortgage or similar) would a current half-paid personal loan for several thousand dollars look better or worse than several ...
2
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1answer
248 views

what are the benefits of setting up an education trust fund for children?

I am thinking of setting up a trust fund for my children. I am wondering if there are any differences between setting up a saving account and a trust fund? Update, I am in New Zealand.
3
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1answer
86 views

Under offer on land based on previous sale price

I'm considering buying a section to build my 1st home on (the city I live in is crazy competitive and expensive due to a major earthquake 7 years ago on top of NZ's already bonkers real-estate market, ...
4
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3answers
716 views

Will I have to pay taxes for Australia if I have an Australian bank account?

I live in New Zealand. I'm doing freelance work for an Australian company. They are not very open-minded in relation to new transfer money methods, they only do it with PayPal or international money ...
4
votes
1answer
559 views

How to start buying shares with small amount of money?

I am a new immigrant in New Zealand (NZ) who brought some money (not much though) from back home. Those money are resting in my bank and doing nothing. I want to invest some of them in stock market ...
4
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2answers
147 views

Investing tax (savings)

I am software development consultant acting as a sole trader (self employed). My main expenses are ultimately paying my self and some hosting. Every time I have an invoice paid I put a percentage ...
32
votes
6answers
11k views

Is it legal to mortgage a property twice or more?

I was talking to one loan agent lately about getting an investment loan, she was trying to convince me to mortgage my house but my house has been mortgaged already. She was saying "let us not worry ...
4
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1answer
46 views

Why GST carries weight in property price?

Country is New Zealand. Some properties in the market carry a message, This property is worth xxx,xxx dollars (plus GST if any) I am really confused by this "plus GST if any" statement. If GST ...
3
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1answer
94 views

Lease term is described as additions instead of a sum

I have been looking at an investment property, it states: Term: 30 years based on 15 + 5 + 5 + 5 Initial rent per unit: Ranging from $13,500 to $19,000 gross plus GST if any (including free-stay ...
5
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2answers
190 views

Working two jobs (one remotely to NZ). What should I do about taxes?

I currently live in the UK. I work full time (37.5 hours a week) at an agency. I get paid a fixed salary for this. I've been approached by someone in New Zealand to hire me by working remotely, I ...
3
votes
1answer
499 views

How do I best time my currency conversions between Australia, New Zealand, and Great Britain?

I have over AU$20,000 in savings in an Australian bank account, currently earning me 1.75%. I am now living in NZ where my savings account earns 3.75%. In about a year I will be transferring the ...
6
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2answers
334 views

Earning salary from USA remotely from New Zealand?

I'm from the beautiful country New Zealand. My problem is: I am accepting the work remotely, Some of the companies from USA are willing (and really interested) to provide me job to work remotely and ...
6
votes
1answer
292 views

UK National Insurance deduction as income tax in NZ

I understand as a New Zealand tax resident I am required to declare my worldwide income and the tax I pay on this income back in NZ each year when I do my tax return. However I am wondering what the ...
1
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1answer
388 views

Tax implications of transferring money to New Zealand from USA?

I want to transfer over $USD10K to New Zealand from the USA and am wondering if there is any tax implication? The money would be going from myself to myself.
3
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1answer
871 views

If I earned money in both New Zealand and in Australia, do I need to file a tax return in both countries?

I am considering work in New Zealand but the financial year will be partly split between the two countries. Do I need to file an income tax return in both countries?
3
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4answers
1k views

How to know if buying a house is a good investment?

Similar question: In general, is it financially better to buy or to rent a house? which you can see the returns they are getting Ok, so I'm wanting to know how I can calculate how profitable it ...
4
votes
1answer
146 views

How do I assess the performance of a Kiwisaver scheme?

In New Zealand we have a long-term savings scheme called Kiwisaver. Essentially, a percentage of your income that you designate (3, 4 or 8%) is funnelled to this saving fund, along side your PAYE ...
3
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1answer
104 views

How to account for transferring money to an investment account?

I have recently been asked to look after the books temporarily for a small not for profit sports club in Christchurch New Zealand. I noticed that they had entered transferring of money from the ...
4
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3answers
573 views

Too low interest rate in New Zealand

I came from a country with high interest rates where you can easily find an investment that pays more than inflation, but I moved to New Zealand and was surprised when I saw that the inflation rate is ...
5
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2answers
27k views

Difference between Fortnightly and Monthly pay

I used to get paid monthly at base salary of 48k. I have recently changed my job and getting paid fortnightly with a base salary of 50k I did some calculation and found out that if I get paid monthly ...
8
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1answer
402 views

Is my financial plan for buying a house logically sound

All money is in NZD, all calculations done Weekly. Linked house is just example. House in North Shore, Auckland, New Zealand. $600K 30 year Mortgage with ASB, 430K loaned at 5.75% variable, (170K down)...
8
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2answers
542 views

How do banks feel about loaning money to independent IT contractors for a home mortgage?

I'm in IT, I go on contracts that range from 3-6 months, but they have a termination clause of 2 weeks usually. I earn $900 NZ per day. How lenient would a bank be on lending say $400K to me, which I ...