New Zealand 2012 fiscal year: 01 April 2011 – 31 March 2012
Corporate income tax rate |
28% |
Limited partnership |
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0% |
New Zealand Foreign Trust |
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0% |
Stamp Duty |
0% |
Inheritance tax rate |
0% |
Capital Gain tax rate |
0% |
Gift duty |
0% |
Debt and equity rulesThere are no debt and equity rules in New Zealand. |
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Tax imputation rulesImputation is a system that allows companies pass on to their shareholders the benefit of the New Zealand income tax they have already paid. New Zealand companies can do this by “imputing” (attaching tax credits to the dividends they pay out) credits for the income tax the company has already paid. |
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Deduction for donationsNew Zealand companies can claim tax deductions for donations to approved charitable organizations, up to the amount of their taxable income. |
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DepreciationYou must claim depreciation on fixed assets used in your business that have a useful lifespan of 12 months or more. |
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Transfer pricingNew Zealand’s transfer pricing rules are based on the “arm’s length” principle as set out in the Organisation for Economic Cooperation and Development (OECD) Model Tax Convention. |
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New Zealand double taxation agreementsAustralia, Austria, Belgium, Canada, Chile, People’s Republic of China, Czech Republic Denmark, Finland, Fiji, France, Germany, Indonesia, India, Ireland, Italy, Japan, Korea, Malaysia, Mexico, Netherlands, Norway, Philippines, Poland, Russian Federation, Singapore, South Africa, Spain, Sweden, Switzerland, Taiwan, Thailand, United Arab Emirates, United Kingdom, United States of America |
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New Zealand free Trade AgreementsAustralia, People’s Republic of China, Thailand, Singapore, Brunei, Chile, Malaysia, Hong Kong |
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Non-Resident withholding tax |
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30.0% |
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15.0% |
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0% |
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0%-15.0% |
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15.0% |
Resident withholding tax |
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10.5%-33.0% |
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33.0% |
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33.0% |
Use of money interest rates |
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8.91% |
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1.82% |
Provisional taxDuring 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. |
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Is your company a resident in New Zealand?The company is resident of New Zealand, if it meets any of the following criteria:
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Are you, personally, a New Zealand resident for tax purposes?You’re a New Zealand tax resident if:
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Income tax rates for individuals(not including Earner’s ACC) |
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up to NZD$14,000 | 10.5% |
NZ$14,001 to $48,000 | 17.5% |
NZ$48,001 to $70,000 | 30.0% |
NZ $70,001 and over |
33.0% |
Tax exemption on foreign income for new migrants and returning New ZealandersNew 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:
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