Three random questions: FIV, Taxes and Social Security (US to NZ)

[cjweaver]

Hello all,

My husband and I went over to Christchurch about a year and a half ago, and after quite a lot of discussion, we're going to try to relocate – hooray!

I know we're at something of a possible disadvantage, as we're both in our 40s, and neither of us are are in what I believe are considered the “in demand” trades. He's got a degree that fits with his job, at least, and well over a decade of experience in the field.

However, we're networking away with the hopes that we will have connections in place when we come over in a planned 12 months to start job searching in earnest.

I have some random questions that I'd love any input on – I know you're (probably) not MAF or accountants or immigration officers, but any additional information would be helpful.

1) We have a cat that *may* be FIV positive – it's very rarely contagious outside of deep bites, and he's totally asymptomatic. I've scoured the MAF site, and I'm not seeing any mention of FIV at all. Does anyone know if this is going to be a problem? I'll check with the pet shippers as well, of course, but thought I'd also check here.

2) As Americans working in NZ, (yes, I'm being optimistic) my understanding is that we'll end up paying tax to both countries. Is this correct?

3)Is it possible for us to collect US Social Security benefits in 25 years (or whatever) if we become residents of NZ? (again with the optimism, I know...) I'm just not quite sure what I'm looking for.


Many thanks for any and all help!

[Manks]

It might be worth emailing MAF/Biosecurity to clarify the FIV situation, although your shipper will probably know too. MAF is pretty good at responding to emailed questions. I asked one on behalf of my parents coming to visit so you can expect an accurate answer.

Otherwise dilanium may be able to help.

[Dell]

NZ and the US have a tax agreement. It is my understanding that as a U.S. citizen, you must file U.S. taxes every year, no matter where you live but you don't pay in both countries. You pay taxes to NZ unless you earn over a certain amount (88K?) then you owe an additional amount to the U.S.

I will be filing for US social security in the next month or two (at 63) and collecting it in NZ (by direct deposit to my U.S. bank account). But I'm at the age where I can start collecting it - and beyond the age where I can accumulate a NZ pension. It's my understanding that you can't double-dip. You collect either a NZ pension or US social security.

[doreysc]

Hello all,


1) We have a cat that *may* be FIV positive – it's very rarely contagious outside of deep bites, and he's totally asymptomatic. I've scoured the MAF site, and I'm not seeing any mention of FIV at all. Does anyone know if this is going to be a problem? I'll check with the pet shippers as well, of course, but thought I'd also check

Here is the cat and dog guidance

http://www.biosecurity.govt.nz/files...catdog.gen.pdf

According to my reading of this the only vaccinations required for cats going into quarantine are feline panleukopenia (enteritis), feline rhinotracheitis and feline calicivirus so you should be OK if no symptoms are exhibited. FIV is in the general cat population here so one more won't really make a difference.

Simon

[sks]

NZ and the US have a tax agreement. It is my understanding that as a U.S. citizen, you must file U.S. taxes every year, no matter where you live but you don't pay in both countries. You pay taxes to NZ unless you earn over a certain amount (88K?) then you owe an additional amount to the U.S...

Pretty close. You file every year with the IRS, declaring your worldwide income. You can exclude "up to" US$ 95,100 of foreign earnings on your US return, but any earnings in excess of that are taxed at the rate you would have paid had you not claimed the exclusion. You do, however, get credit for tax paid to NZ, and since the NZ rates are generally higher than US rates, you'd have to earn quite a bit to owe any tax to Uncle Sam. But be careful -- NZ doesn't tax you for overseas income, so, if you've investment income derived outside NZ, chances are you'll owe US income tax on it.

...You collect either a NZ pension or US social security...

Well -- for NZ Superannuation (local equivalent of Social Security), NZ will deduct US Social Security payments from your entitlement. So, if you're only entitled to a small Social Security payment (because you haven't worked in the US for very long or earned very much there), you might collect both, but only up to a total of what you'd qualify for in NZ anyway. As far as I know, if you have a private pension plan in NZ, then you'd be able to collect that plus Social Security (but see above about declaring worldwide income on your IRS returns).

I'm neither a lawyer nor a tax specialist, BTW, and US tax laws are horribly complex, so best to consult an expert when it's time to file.

[Adams Girl]

Also need to ask yourself if US Social Security is likely to be around in however many years before you retire. I'm about 20 years away from retirement and decided even shortly after I moved there in 1995 that Soc Sec wouldn't actually be worth squat by the time I retired. It keeps getting raided and I honestly don't think it's something you can rely on, no matter which side of the political fence you sit on. I'll take my Superannuation and KiwiSaver over the likelihood of US Soc Sec any day, thanks.

I do hope I've successfully avoided political bias in this post. If a mod decides I've not, then please delete or edit this post. Thanks.

[Mamee & Co]

But be careful -- NZ doesn't tax you for overseas income, so, if you've investment income derived outside NZ, chances are you'll owe US income tax

Not quite right..you can elect not to be taxed on your overseas income in the first four years but as an NZ tax resident you are taxed on your world wide earnings....you need to check out the double taxation relief treaties ( if they exist) between the various countries to work out what gets taxed where in this instance.

[Hagabel]

As I understand it, yes you do have to file taxes with the US annually. We just has a nightmare of a time doing through a lady in the US, not next yr. (will be using a company over here)
We understood that if you earn over $90K US individually in NZ then you may pay tax on it.

[cjweaver]

Oh my goodness - thank you all so much!

I'll email MAF right now, just to be sure. And thank you all for the information about taxes and Social Security

This gives me a place to start with for even beginning research - I had just hit flat out boggled. (history major working with computers now - tax code honestly just makes my brain go blank)

Next up, sorting through our qualifications and figuring out what is defined as a Creative field (crossing fingers, as I think we'll need the points )

Many thanks again!

[Dell]

Thanks from me too! This is info I also needed....