New Zealand Tax System
- New Zealand is a high tax jurisdiction with a tax system primarily comprising an income tax and a 12.5% goods and services tax, each levied only on New Zealand residents or from income derived within New Zealand.
- The tax legislation includes strong anti-avoidance provisions and highly effective controlled foreign corporation (CFC) legislation. New Zealand does not have capital gains tax nor any other form of wealth tax.
- The New Zealand tax system does not tax non-residents on foreign source income. Various legislative provisions ensure that this principle is applied.
- In 1988 reform of the tax system gave legal recognition to the tax exempt status of the foreign trust in respect of income derived from sources outside of New Zealand.
- New Zealand has a broad network of double tax agreements with 34 countries, (including Australia, Canada, France, Germany, Italy, Japan, Netherlands, Spain, Switzerland, the United Kingdom and the USA).
- There are not expected to be any changes to tax laws that would diminish the attraction of New Zealand as a base for global investment.
Click on one of the links below to read more about New Zealand trusts: