Introduction and Scope Part One of this series detailed how the proposed changes to N.Z.’s FIF rules[1] may affect N.Z. tax residents who are subject to tax of another country, notably the U.S., through citizenship, or lawful permanent residence[2]. Those individuals...
Inland Revenue has issued IS 25/18, addressing situations where receipts from foreign trusts and estates are subject to N.Z. income tax. IS 25/18 replaces IS 19/04, issued in 2019, providing further guidance on transactions with foreign trusts and foreign inheritances...
Introduction and Scope N.Z.’s foreign investment fund regime is complex and is becoming increasingly so. Therefore, this article is being published in three parts. Part One of this article addresses: U.S. citizens and green card holders, who became tax...
In a first for New Zealand taxation, tax on New Zealand residents who are also subject to taxation of another country through citizenship is being addressed as New Zealand reviews the Foreign Investment Fund (FIF) rules. Earlier this year, Inland Revenue released a...
On July 4, 2025, the enactment of the One Big Beautiful Bill Act (OBBBA) introduced changes to federal income tax. Many of these changes affect U.S. citizens, lawful permanent residents, and other residents-whether they live inside or outside the United States. Many...
