News

How much should advisers have known about tax on transfers?

Tuesday 3rd of May 2016

Inland Revenue is pursuing people who it believes have not paid adequate tax on foreign pensions transferred to New Zealand.

The rules were changed in 2014 so that transfers would be taxable when the money arrived in New Zealand. The longer the person had been a resident of New Zealand, the more tax there was to pay.

Before that, some transfers were taxed under FIF rules but the r...

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