NZ Tax Exemptions

May 26, 2006


The Inland Revenue Department has advised that:
Since 3 April 2006, returning New Zealanders and new immigrants to NZ have had the opportunity to have an automatic temporary tax exemption for most types of foreign income (part of the Taxation (Depreciation, Payment Dates Alignment, FBT and Miscellaneous Provisions) Bill).The legislation focuses on these two key points
1) to minimise the cost of New Zealand employers who hire employees from overseas with certain types of foreign income, and

2) to encourage people to consider New Zealand as a viable and competitive place to live and work when deliberating moving and working to a different country and making it easy to make use of the temporary exemption (it's automatic)

Please visit the IRD website using the link below for more detailed information:
http://www.ird.govt.nz/yoursituation-ind/earning-income/temp-tax-empt-foreign-inc.html

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