What’s at stake: NZ stands accused of scaring off high-net-worth individuals with offshore assets because of laws that say residents of NZ must be taxed for their offshore assets – even if those assets are not making money.
Background: Foreign Investment Fund rules were introduced in 1988 to stop NZers using havens offshore to reduce their tax.
Main players: NZIER, Peter Wilson, Julie Fry, Foreign Investment Fund.
An obscure bit of taxation law is preventing the type of high net worth, investment-ready immigrants this country says it wants to attract from relocating to New Zealand – and a new report is part of an effort aimed at fixing the issue.
The report, called The place where talent does not want to
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What’s at stake: NZ stands accused of scaring off high-net-worth individuals with offshore assets because of laws that say residents of NZ must be taxed for their offshore assets – even if those assets are not making money.
Background: Foreign Investment Fund rules were introduced in 1988 to stop NZers using havens offshore to reduce their tax.
Main players: NZIER, Peter Wilson, Julie Fry, Foreign Investment Fund.
