The deadline for reporting United States account holders with foreign financial institutions is almost upon us. Although FATCA was enacted in 2010 as part of the HIRE act, we are only now on the cusp of its ramifications. New Zealand and the United States signed an...
In the week just ended we have observed a fundamental shift in the landscape of information exchange between countries. New legislation has come into force in New Zealand, increasing information reporting with respect to property transactions, and a milestone has been...
If you’re a US citizen, now is the hour to ensure that you are reporting your KiwiSaver funds correctly. Firstly, let’s define what a KiwiSaver fund actually is. A KiwiSaver fund is a voluntary retirement fund which may be set up by anyone including employees,...
FATCA update: Today the Internal Revenue Service issued advice that reporting by specified domestic United States entities of specified foreign financial assets will not be required for taxable years beginning any earlier than 31 December 2012. A ‘specified...
In a significant move today the US Department of the Treasury and the Internal Revenue Service have set down the final regulations for the Foreign Account Tax Compliance Act (FATCA). The proposed regulations were issued in February 2012 and after almost a year of...
