Questions tagged [new-zealand]
For questions that relate to the laws, practices, and products of New Zealand.
46
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An a person without a US citizenship, do I always pay a capital gains tax according to the laws of the country I made the gains in?
I lived in Germany my whole life. I don't have a US citizenship.
I invested in S&P 500 via the American "Interactive Brokers" for the last 4 years.
Now I want to move to New Zealand.
I ...
1
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1
answer
1k
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Work for NZ employer but want to live in Australia and work remotely
I am presently working for a NZ employer and plan to move to Australia and continue working for same NZ employer remotely in Australia for at least 6 - 12 months or more.
Can it be possible (assume ...
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2
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2
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How do I get relief from double taxation on New Zealand interest under treaty when I have a net foreign passive loss?
As a preliminary, I am a dual citizen of New Zealand and United States, resident in the United States, but I have New Zealand source passive income.
Under the New Zealand tax system, interest is ...
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1
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539
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Claim of Tax Treaty Benefits of W-8BEN for New Zealand resident
I'm starting full-time remote employment with a US company soon, and they asked me to fill up the W-8BEN form. So what should I fill up on the part of Claim of Tax Treaty Benefits? I found that NZ has ...
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Will I pay capital gain tax if I sell a part of my invest which I accumulated by Dollar Cost Averaging over long time?
I am an investor in New Zealand. Generally in NZ, there is no tax over a capital gain if the investment is done for the intent of a long-term time horizon (12 months or more). I use dollar-cost-...
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Capital gains tax in New Zealand on foreign shares
What is the capital gains tax in New Zealand on foreign shares?
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2
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760
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Should employer gym reimbursement be taxed?
I'm a programmer and the company I work for reimburses gym expenses. This is being taxable, so I end up not getting back the full amount I spent.
I'm trying to understand page 34 of the IR Employer ...
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2
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1
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Do I pay tax in New Zealand or Australia as a resident of Bolivia but citizen of Australia?
I reside in Bolivia although I am an Australian citizen (but regarded as a non-resident of Australia for taxation purposes.)
I was invited to teach a series of workshops in New Zealand over a 2-week ...
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3
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2
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404
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As a UK Citizen, how do I sell shares on NZX?
I'm a UK citizen. Some time ago, I worked for a company based in New Zealand. The company went public on NZX and I ended up with some shares.
I have never been to New Zealand and don't have any bank ...
- 131
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3k
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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 ...
user45974
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1
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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 ...
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114
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10
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44k
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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 ...
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4
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0
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88
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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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1
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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'...
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1
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119
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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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2
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375
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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 ...
user19035
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0
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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 ...
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4
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1
answer
882
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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 ...
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4
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1
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158
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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 ...
- 7,596
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2
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395
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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 ...
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1
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222
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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 ...
- 7,596
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0
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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 ...
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218
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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....
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3
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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 ...
- 161
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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 ...
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3
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375
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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.
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1
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132
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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, ...
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4
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3
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1k
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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 ...
- 157
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785
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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 ...
- 151
4
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2
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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 ...
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6
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13k
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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 ...
- 573
3
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1
answer
62
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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 ...
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1
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132
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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 ...
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2
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502
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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 ...
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1
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581
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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 ...
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2
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537
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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 ...
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1
answer
400
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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 ...
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535
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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.
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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?
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1k
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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 ...
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1
answer
185
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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 ...
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388
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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 ...
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3
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639
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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 ...
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1
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52k
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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 ...
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430
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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)...
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2
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569
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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 ...
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