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Thread: NZ Income Tax Advice ????

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  1. #1
    Join Date
    Aug 2004
    Location
    Manawatu - NZ
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    4,450

    Default NZ Income Tax Advice ????

    I'd be really grateful if somebody could point us in the right direction on this one.

    Brief outline of details:

    Moving to NZ as soon as house has sold. Kiwi Husband (been out of the country for about 20 years), me English - 2 half breed kids :eek

    Husband works for oil company which means he has to work anywhere in the world as required. The company are US owned, he is paid in US dollars (into UK bank account at the moment).

    With me so far?

    So - when we are living in NZ, working for the same company, same pay rate and same pay details, he'll just be flying in and out of Auckland instead of Manchester - what do we do as far as income tax is concerned?

    I know that the first thing we will need to do when we arrive is seek out the services of a tax consultant, but it would be good if somebody could give us abit of a clue beforehand.

  2. #2
    Join Date
    Aug 2004
    Posts
    39

    Default

    You will need to explore this more but I think the tax should be paid in the country of residence. So once you have residence in NZ you start to pay there instead of UK.

    You should also look at the offshore rules for NZ. The UK you dont have to pay tax if you are out of the country for more than X days (Cant rememeber the exact number) during a tax year, so April 5th to April 4th.

    Not sure on the NZ tax rules for this.

    Hope that helps

  3. #3
    Join Date
    Aug 2004
    Location
    Manawatu - NZ
    Posts
    4,450

    Default

    Woz

    Thanks for that info. You're right, we will need to get this sorted asap after we arrive. Have heard something about the offshore rules. He works one month away then has a month at home so he's actually away for a collective 6 months in each year.

    We'll have to pay tax somewhere down the line - but at this stage God knows where.

    Diny

  4. #4
    Join Date
    Aug 2004
    Location
    Mount Maunganui
    Posts
    227

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    Do any of you already in nz still recieve some sort of income from the UK?
    If you do how does the dual tax agreement between the UK and NZ actually work?
    Do you pay it in both UK and NZ, and then get a rebate in NZ or a rebate in UK? Do you still pay National Insurance, even if there's no chance of you getting a pension at the end of it all?
    Any help would be much appreciated

  5. #5
    Join Date
    Aug 2004
    Location
    Manawatu - NZ
    Posts
    4,450

    Default

    Radders I wouldn't have a clue - and wouldn't like to guess either. My hubby gets paid by a US company in US dollars which are then transferred into our UK bank account - this is a new system and so far nobody is deducting any tax !!! Need to sort it out though - don't want to pee ourselves everytime there's a knock at the door.

    I'll keep hunting down the info and let you know if I find anything.

    Diny

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