New Zealand


  • Service: Tax
  • Type: Business and industry issue
  • Date: 26/07/2012

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Rebecca Armour

Partner - Tax

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Darshana Elwela

Darshana Elwela

National Tax Director

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Taxmail - Foreign superannuation tax changes 

Tax will depend on time spent in New Zealand

Issue 2, July 2012


Officials are proposing changes to the taxation of foreign superannuation scheme interests held by New Zealanders. 


Broadly, they replace the current myriad of different tax rules for such interests with a tax on lump sum receipts.  The amount of the receipt that will be taxable will depend on the “inclusion rate” (this will range from 0% to 100% depending on how long the person has been NZ resident). 


Taxmail analyses the proposals and their impact.

taxmail - foreign super tax
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Overall, the issues paper is heading in the right direction.  The current tax rules are not well understood and create inequities. 


The inclusion rate proposal acknowledges that not all of a foreign superannuation lump sum receipt should be taxable and proposes a method to address that.  Over-taxation concerns remain however. 


We expect the focus will be on those tax effects, amongst other design issues.


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