Becoming a Kiwi Resident and importing assets
 

Re: Becoming a Kiwi Resident and importing assets
 

Contact chc4me this is right up his street

Re: Becoming a Kiwi Resident and importing assets
 

I agree. Dai is ace.

Re: Becoming a Kiwi Resident and importing assets
 

I'm another for Team Dai (Chc4me). He managed the transfer of both of our pensions from the UK in to an NZ Superann fund and continues to manage our portfolio.

Re: Becoming a Kiwi Resident and importing assets
 

Oh wow, thanks team, I'm feeling the love!

Turban Explorer - if you haven't lived in NZ previously, then it is likely that you qualify as a Transitional Tax Resident. This means that you will have a 4 year tax free period from date of arrival to arrange your affairs and bring assets to NZ without tax or duty. However I should say that tax issues can be complex and you should seek advice from an appropriate tax accountant that specialises in such matters before undertaking any course of action.

In terms of your UK Pension, it does depend on the type of pension you have. In general you will be able to move pension savings to a NZ fund within 4 years of arrival, tax free. Is it easy or hard? Depends on they type of scheme that you have (e.g Defined Benefits or Defined Contribution, personal pension, or a SIPP), the UK scheme administrator, the NZ scheme that you are transferring to, knowledge of the rules and knowing what could go wrong. I've written a short ebook on the subject, you can PM me if you'd like a copy.

I should add that this post covers a number of points on Pensions.
regards
chc4me

Re: Becoming a Kiwi Resident and importing assets
 

Re: Becoming a Kiwi Resident and importing assets
 

Generally no import duty on bringing your own (used) personal possessions but beware importing more interesting things like wine/whiskey collections, newer motor vehicles or larger boats as they could all be subject to duty to some degree

Re: Becoming a Kiwi Resident and importing assets
 

How about tools? I'm a farmer planning to move to NZ in 2020 or 2021 and would be bringing around £18k worth of power and hand tools from our farm workshop (from screwdrivers and socket sets to an industrial drill and lathe). I can show receipts for most of them but would they incur duty?

Re: Becoming a Kiwi Resident and importing assets
 

Now this thread has moved on slightly from financial assets, does anyone know of there is duty to be paid on new personal belongings?
We will have our shipping paid for, so no real limit to what we can bring so we want to future proof and bring some new 'stuff' with us as we are well aware that the cost of goods exceeds that in the UK. So maybe next size bikes for the kids (we have a favourite UK brand that we can get discounted), a dining table that I have coveted for a long time, next size kids clothes bought in the sales..... etc. I'm basically stockpiling!!

Re: Becoming a Kiwi Resident and importing assets
 

Cut the labels off, remove all original packaging, and who's to say they are new ??

Its common sense really, they are only new if you say they are.

Re: Becoming a Kiwi Resident and importing assets
 

Re: Becoming a Kiwi Resident and importing assets
 

Hi,

I'm currently in the process of making the move from the UK to Christchurch with my British Husband.

We both have UK pensions to transfer.

Do you have a copy of the ebook you would be able to share with me too?

Thanks for your help in advance!

Angela

Re: Becoming a Kiwi Resident and importing assets
 

KiwiAnge, I've private messaged you the link for the ebooks.

Re: Becoming a Kiwi Resident and importing assets