UK Pension Transfers - update for 2015
#46
Re: UK Pension Transfers - update for 2015
When talking about tax, we need to separate Tax Residency from Permanent Residency or right to live in NZ (ie Visa's).
Tax residency starts from the day you arrive, subject to (within a 12 month period) spending 183 days in NZ OR from the time that you acquire a place to live.
As an example, if you arrive for a holiday, maybe to scout out the country and check which city you might settle in; then you leave NZ and not return for a period of time, then you have not triggered the Tax Residency. However if you return to NZ and spend a total of 183 days out of the 365 days in a year (including the number of days you were on holiday in NZ) then tax residency starts from the day you first arrived in the country.
Part two: acquire a place to live. If you are here on a short stay and buy a house to live in for when you return live in NZ, then this could start the Tax Residency.
If you are unsure, best to check with an accountant.
Tax residency starts from the day you arrive, subject to (within a 12 month period) spending 183 days in NZ OR from the time that you acquire a place to live.
As an example, if you arrive for a holiday, maybe to scout out the country and check which city you might settle in; then you leave NZ and not return for a period of time, then you have not triggered the Tax Residency. However if you return to NZ and spend a total of 183 days out of the 365 days in a year (including the number of days you were on holiday in NZ) then tax residency starts from the day you first arrived in the country.
Part two: acquire a place to live. If you are here on a short stay and buy a house to live in for when you return live in NZ, then this could start the Tax Residency.
If you are unsure, best to check with an accountant.
#49
Re: UK Pension Transfers - update for 2015
Might wait until we here from the UK before updating it.
#50
Forum Regular
Joined: Aug 2016
Posts: 94
Re: UK Pension Transfers - update for 2015
Hello
Did I see mention that there's some info on benefits or not of switching from U.K. State to NZ? What happens to all those NI contributions???
And what happens if I just leave all my little UK work pensions where they are?
Thanks
Did I see mention that there's some info on benefits or not of switching from U.K. State to NZ? What happens to all those NI contributions???
And what happens if I just leave all my little UK work pensions where they are?
Thanks