In welcome news, the Government passed the COVID-19 Response Taxation Bill which is now awaiting Royal Assent. The policy in this Bill is to assess the Government’s response to the economic impacts of the COVID-19 outbreak.
Are you migrating or returning to New Zealand? Are you aware of the tax implications of such a move? Many people move to New Zealand having kept overseas properties. Sadly, these new Kiwis can easily be caught out by the tax traps involved in this, leading to both undesirable and unexpected outcomes.