gaz1277

Hi there,
Are there any guys/gals out there that completed 22 yrs in the Forces and then moved to NZ (civvy)? Is there a double taxation rule in force between UK/NZ on the amount that comes into NZ or is it all taxed at source. Please use pm if needed (privacy etc)

Genesis

I have a friend who is ex UK forces. His UK pension is fully taxed in NZ.....even though it is paid into a UK bank account. If you are resident in NZ ALL income (including pensions etc) where ever earned in the world are taxable under NZ tax rules. (BTW Premium bond wins and funds from UK endowments are not taxable..I have asked the IRD.)

But if you enter/ed Nz after a certain time..think it was about 3-4 years ago there was a tax break set up for those entering NZ and taking up residency for the 1st 4 years. And the latter is that all overseas earnings are tax free for the 1st 4 years. Check withn www.ird.govt.nz if this is still the case. I think it is. There is one caveat and if you take this kind offer you CANNOT avail yourself to family tax credits in NZ if you take the 4 years tax free on foreign income. Tax credits are where you get tax refunded on what you have paid dependent on how many kids you have and on what you earn. The less you earn and the more kids you have the more you get.