In the wake of the changes to the way that foreign pensions (including 401-k’s and IRAs) are taxed in New Zealand the Inland Revenue Department (IRD) has recently refined its position with respect to foreign tax credit availability. The way that pension income...
Late in 2014, we commented on the IRD’s position on the availability of foreign tax credits for New Zealand tax residents, with respect to United States-sourced pensions. The current situation gives rise to double taxation with respect to pension income arising...
The updated double tax agreement between New Zealand and the United States that was signed on 1 December 2008 has just come into force. Among the main changes to the agreement are that withholding taxes on certain dividends, interest and royalty payments have been...
United States persons are subject to U.S. income tax on foreign-source as well as U.S.-source income. Subject to applicable limitations, U.S. persons with foreign-source income may credit income taxes imposed by foreign jurisdictions against their U.S. income tax...
