The tax rules for foreign investment funds (FIF rules) are extremely complex and inconsistent with the current investment environment, often confusing people.After many feedback and complaints from us as accountants and tax agents, New Zealand Inland Revenue (IRD) has launched a consultation on policy proposals to address an aspect of New Zealand’s foreign investment fund rule (FIF Rule).
According to the current rules, imposing a tax on unrealised income (calculation based on the market value of the offshore shares) could deter some people from settling in New Zealand.
The good news is, the proposal suggests allowing some migrants to pay tax on dividends and realised gains only,
The consultation will be closing on 27 January 2025.
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