Residency Tax Advice
New Zealanders living and working overseas can breathe a little easier now tax authorities have agreed that renting out a house they own in New Zealand doesn’t automatically make them a New Zealand taxpayer.
The Inland Revenue Department has issued an interpretation of New Zealand residency after a Taxation Review Authority decision last year appeared to massively widen the scope for kiwis to be taxed in New Zealand on income earned offshore.
A key determinant in the TRA’s decision was property ownership and the existence of a permanent place of abode.
via :NZ Herald News.