New Zealand

Details

  • Service: Tax
  • Type: Business and industry issue
  • Date: 24/05/2013

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John Cantin

John Cantin

Partner - Tax

+64 4 816 4518

 

Taxmail - Foreign super tax Bill introduced 

Issue 4 - May 2013 

 

The Government has introduced a Tax Bill containing, amongst other changes, new rules for taxing New Zealanders’ foreign superannuation interests. See the Bill, commentary and related information.

 

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The foreign super tax proposals clarify a misunderstood area of tax law which has mainly, inadvertently, not been complied with. They also offer an opportunity to remedy past non-compliance.

However, the proposed amnesty will only apply in certain circumstances. In others, there could be double tax if IRD pursues past non-compliance and the new rules apply to tax future withdrawals.

 

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Taxmail - Comment on topical tax issues from KPMG NZ Tax. 
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