If you have overseas investments (New Zealand tax residents with overseas interests)


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    Becoming resident in one country while still having financial commitments in another can cause complications to your tax status. back in the UK. If you have moved overseas, you may want to grow any.

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    New Zealand’s economy is dependent on foreign investment. However, t he coalition government between the Labour Party and New Zealand First – a nationalist party – passed the Overseas Investment Amendment Act of 2018 to restrict FDI in areas such as ‘sensitive’ land and housing (New Zealand Parliament).

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    If you are deemed to be a New Zealand tax resident then you are taxed on your total worldwide income, including both income sourced in New Zealand and in all other countries. Those who are not deemed New Zealand tax residents only pay New Zealand tax on income originating from New Zealand, for example income gained from an investment or rental.

    If you live and work overseas but rent out your New Zealand house, the IRD is proposing to change the rules to draw you back into a New Zealand tax liability. Your view?

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