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New Zealand Taxation 2012 for International
investors: Dates & Rates
   New Zealand fiscal year 2012                      01 April 2011 -31 March 2012

   Corporate income tax rate                                 28.0%

   Limited partnership
     NZ tax rate on non-NZ sourced
     income for non-resident Limited Partner                  0%

   Capital Gain tax rate                                     0%                     Double Taxation Agreements
                                                                                     Australia
                                                                                     Austria
   Gift duty                                                 0%                     Belgium
                                                                                     Canada
   Stamp Duty                                                0%                     Chile
                                                                                     People's Republic of China
   Inheritance tax rate                                      0%                     Czech Republic
                                                                                     Denmark
   Goods and Services Tax (GST)                                                     Finland
     Local goods and services                                 15%                    Fiji
     Exported goods                                           0%                     France
     Goods not in New Zealand at the time of supply           0%                     Germany
     Services performed outside New Zealand                   0%                     Indonesia
     Imported services                                        0%                     India
                                                                                     Ireland
                                                                                     Italy
                                                                                     Japan
   Debt and equity rules
                                                                                     Korea
    There are no debt and equity rules in New Zealand.                               Malaysia
                                                                                     Mexico
   Tax imputation rules                                                             Netherlands
                                                                                     Norway
    Imputation is a system that allows companies pass on to their shareholders
                                                                                     Philippines
    the benefit of the New Zealand income tax they have already paid. New            Poland
    Zealand companies can do this by "imputing" (attaching tax credits to the        Russian Federation
                                                                                     Singapore,
    dividends they pay out) credits for the income tax the company has already       South Africa
    paid.                                                                            Spain
                                                                                     Sweden
   Deduction for donations                                                          Switzerland
                                                                                     Taiwan
    New Zealand companies can claim tax deductions for donations to                  Thailand
    approved charitable organizations, up to the amount of their taxable             United Arab Emirates
                                                                                     United Kingdom
    income.
                                                                                     United States of America

   Depreciation                                                                     Free Trade Agreements
    You must claim depreciation on fixed assets used in your business that           Australia
    have a useful lifespan of 12 months or more.                                     People’s Republic of China
                                                                                     Thailand
                                                                                     Singapore
   Transfer pricing                                                                 Brunei
                                                                                     Chile
    New Zealand's transfer pricing rules are based on the "arm's length"
                                                                                     Malaysia
    principle as set out in the Organization for Economic Cooperation and            Hong Kong

    Development (OECD) Model Tax Convention.
Provisional tax
                                                                                       During the tax year your business may
                                                                                       be liable to pay provisional tax if your
                                                                                       residual income tax is more than NZ
                                                                                       $2,500. The provisional tax must be
                                                                                       paid during the year is offset against
                                                                                       your end of year tax payable figure.

                                                                                       Is your company a resident in
                                                                                       New Zealand?
                                                                                       The company is resident of New
                                                                                       Zealand, if it meets any of the
Non-Resident withholding tax                                                           following criteria:
                                                                                              It is incorporated in New
                                                                                               Zealand
            Dividends (not imputed or credited)                   30.0%                      Control by the company
            Cash dividends (fully imputed)                        15.0%                       directors is exercised in New
            Non-cash dividends (fully imputed)                    0%                          Zealand
            Interest                                              0% - 15                    It has its centre of management
                                                                                               in New Zealand
            Royalties                                             15.0%                      It has its head office in New
                                                                                               Zealand

Resident withholding tax
                                                                                       Are you, personally, a New
            Interest (IRD number provided)                        10.5% - 33.0%       Zealand resident for tax
            Interest (no IRD number provided)                     33.0%               purposes?
            Dividends                                             33.0%               You’re a New Zealand tax resident if:

Use of money interest rates                                                                   you are in New Zealand for
                                                                                               more than 183 days in any 12-
                                                                                               month period, or
            Taxpayer’s paying rate                                8.91%
            Commissioner paying rate                              1.82%                      you have an “enduring
                                                                                               relationship” with New Zealand


Tax exemption on foreign income for new migrants and returning New
Zealanders

New tax residents in New Zealand may qualify for a temporary tax exemption for up to
49 months on some of their foreign income derived from:
     Controlled foreign company income that is attributed under New Zealand's         Income tax rates
        Controlled Foreign Company (CFC) rules
     Foreign investment fund income that is attributed under New Zealand's Foreign    for individuals
        Investment Fund (FIF) rules (including foreign superannuation)
     Non-resident withholding tax (for example on foreign mortgages)                  (not including Earner’s ACC)
     Approved issuer levy (for example on foreign mortgages)
     Income arising from the exercise of foreign employee share options               up to NZD$14,000               10.5%
     Accrual income (from foreign financial arrangements)
     Income from foreign trusts
                                                                                       NZ$14,001 to $48,000           17.5%
     Rental income derived offshore
     Foreign dividends
     Foreign interest                                                                 NZ$48,001 to $70,000           30.0%
     Royalties derived offshore
     Income from employment performed overseas before coming to New Zealand,
        such as bonus payments                                                         NZ $70,001 and over            33.0%
     Gains on sale of property derived offshore (held on revenue account)
     Offshore business income (that is not related to the performance of services).
Legal Disclaimer
Neither this brochure nor our website provides neither tax, nor legal or accounting advice.
Please do not confuse the information given in our brochures, websites and
communications with a professional consultation. Further, this brochure should not be
construed as a solicitation or offering of company formation or any other service of
Abaconda Management Group Ltd.


© All rights reserved. Abaconda Management Group Ltd.




                                                                                              Abaconda Management Group
                                                                                                      Office 3, 556 Cameron Rd,
                                                                                                                 Tauranga South
                                                                                                                       Tauranga
                                                                                                                           3112
                                                                                                                    New Zealand

                                                                                                               +64 9 88 9 22 77

                                                                                                           info@abaconda.info

                                                                                                          http://abaconda.info

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New Zealand Taxation 2012

  • 1. New Zealand Taxation 2012 for International investors: Dates & Rates
  • 2. New Zealand fiscal year 2012 01 April 2011 -31 March 2012  Corporate income tax rate 28.0%  Limited partnership NZ tax rate on non-NZ sourced income for non-resident Limited Partner 0%  Capital Gain tax rate 0% Double Taxation Agreements Australia Austria  Gift duty 0% Belgium Canada  Stamp Duty 0% Chile People's Republic of China  Inheritance tax rate 0% Czech Republic Denmark  Goods and Services Tax (GST) Finland Local goods and services 15% Fiji Exported goods 0% France Goods not in New Zealand at the time of supply 0% Germany Services performed outside New Zealand 0% Indonesia Imported services 0% India Ireland Italy Japan  Debt and equity rules Korea There are no debt and equity rules in New Zealand. Malaysia Mexico  Tax imputation rules Netherlands Norway Imputation is a system that allows companies pass on to their shareholders Philippines the benefit of the New Zealand income tax they have already paid. New Poland Zealand companies can do this by "imputing" (attaching tax credits to the Russian Federation Singapore, dividends they pay out) credits for the income tax the company has already South Africa paid. Spain Sweden  Deduction for donations Switzerland Taiwan New Zealand companies can claim tax deductions for donations to Thailand approved charitable organizations, up to the amount of their taxable United Arab Emirates United Kingdom income. United States of America  Depreciation Free Trade Agreements You must claim depreciation on fixed assets used in your business that Australia have a useful lifespan of 12 months or more. People’s Republic of China Thailand Singapore  Transfer pricing Brunei Chile New Zealand's transfer pricing rules are based on the "arm's length" Malaysia principle as set out in the Organization for Economic Cooperation and Hong Kong Development (OECD) Model Tax Convention.
  • 3. Provisional tax During the tax year your business may be liable to pay provisional tax if your residual income tax is more than NZ $2,500. The provisional tax must be paid during the year is offset against your end of year tax payable figure. Is your company a resident in New Zealand? The company is resident of New Zealand, if it meets any of the Non-Resident withholding tax following criteria:  It is incorporated in New Zealand  Dividends (not imputed or credited) 30.0%  Control by the company  Cash dividends (fully imputed) 15.0% directors is exercised in New  Non-cash dividends (fully imputed) 0% Zealand  Interest 0% - 15  It has its centre of management in New Zealand  Royalties 15.0%  It has its head office in New Zealand Resident withholding tax Are you, personally, a New  Interest (IRD number provided) 10.5% - 33.0% Zealand resident for tax  Interest (no IRD number provided) 33.0% purposes?  Dividends 33.0% You’re a New Zealand tax resident if: Use of money interest rates  you are in New Zealand for more than 183 days in any 12- month period, or  Taxpayer’s paying rate 8.91%  Commissioner paying rate 1.82%  you have an “enduring relationship” with New Zealand Tax exemption on foreign income for new migrants and returning New Zealanders New tax residents in New Zealand may qualify for a temporary tax exemption for up to 49 months on some of their foreign income derived from:  Controlled foreign company income that is attributed under New Zealand's Income tax rates Controlled Foreign Company (CFC) rules  Foreign investment fund income that is attributed under New Zealand's Foreign for individuals Investment Fund (FIF) rules (including foreign superannuation)  Non-resident withholding tax (for example on foreign mortgages) (not including Earner’s ACC)  Approved issuer levy (for example on foreign mortgages)  Income arising from the exercise of foreign employee share options up to NZD$14,000 10.5%  Accrual income (from foreign financial arrangements)  Income from foreign trusts NZ$14,001 to $48,000 17.5%  Rental income derived offshore  Foreign dividends  Foreign interest NZ$48,001 to $70,000 30.0%  Royalties derived offshore  Income from employment performed overseas before coming to New Zealand, such as bonus payments NZ $70,001 and over 33.0%  Gains on sale of property derived offshore (held on revenue account)  Offshore business income (that is not related to the performance of services).
  • 4. Legal Disclaimer Neither this brochure nor our website provides neither tax, nor legal or accounting advice. Please do not confuse the information given in our brochures, websites and communications with a professional consultation. Further, this brochure should not be construed as a solicitation or offering of company formation or any other service of Abaconda Management Group Ltd. © All rights reserved. Abaconda Management Group Ltd. Abaconda Management Group Office 3, 556 Cameron Rd, Tauranga South Tauranga 3112 New Zealand +64 9 88 9 22 77 info@abaconda.info http://abaconda.info