Article 19 of the income tax treaty in force between New Zealand and the United States sets out which country gets taxing rights to pensions from government service. Not to be confused with social security benefits, which are only taxable in the source country (New...
In an earlier blog, I mentioned the IRD paper released in July 2012 addressing proposed changes to the way in which New Zealand taxes foreign superannuation schemes. Here’s a summary of the current tax treatment, and the proposed changes in the Issues paper. Current...
In a much-anticipated move, the Policy Advice Division of Inland Revenue and the New Zealand Treasury released an Officials’ issues paper last week on the Taxation of Foreign Superannuation. We welcome the release of the paper, which signals some fundamental...
According to the Chief Advisor – International Audit – IRD, the top ten errors associated with international tax compliance with respect to the taxation of NZ tax residents are as follows: Error 1: NZ tax residents are taxable on income from NZ...
