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

Different rules for different kinds of investments Overseas dividends and interest. If you own shares in an overseas company or unit trust, or have overseas bank accounts, you pay tax in New Zealand on the dividends and interest. Your overseas dividends and interest are included in your taxable income for the tax year.

For a New Zealand resident, any interest you earn whether from New Zealand or overseas sources will be included in your taxable income and will be subject to tax at marginal rates. A tax credit is generally allowed for any overseas taxes paid on interest derived from overseas.

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I live in New Zealand and have a temporary work visa. Do I need consent? As the holder of a temporary work visa you cannot be ordinarily resident in New Zealand and you are an overseas person for the purposes of the Overseas Investment Act 2005. However, if you can demonstrate your intention to reside to New Zealand indefinitely, then you may.

Investment and business visas. If you have capital and the right skills, we can offer you dedicated investor and business visas that open up opportunities for you to settle, or at least spend considerable time here, enjoying all our beautiful country has to offer. It’s all part of our commitment to welcoming overseas investment.

If you’re a New Zealand tax resident, you pay tax on interest and dividends from bank accounts and investments you have in New Zealand. You also pay tax on your income from overseas accounts and investments.

In today’s world, information is readily available and the IRD is actively sourcing information on New zealand tax residents. If you have any investments or interests overseas, you should talk to your tax adviser to determine if you should be returning it (or in some cases just disclosing it.)

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If you have bank accounts and other investments in New Zealand, you pay income tax on any interest and dividends. New Zealand tax residents also pay income tax on interest and dividends from their overseas investments.

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New Zealand residents with investments in overseas shares need to consider their tax position each year. The timing of transactions, particularly around 31 March each year, can also have a significant impact on your tax position.

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