Comments on: Financial affairs in New Zealand http://www.bioneural.net/feeder/?FeederAction=clicked&feed=Comments+on+Articles+%28RSS2%29&seed=http%3A%2F%2Fwww.bioneural.net%2F2007%2F08%2F21%2Ffinancial-affairs-in-new-zealand%2F%23comment-&seed_title=Financial+affairs+in+New+Zealand bioneural.net is for stuff worth sharing: commentary by Bruce McKenzie. Major topics covered are gadgets, informatics, Internet, Mac, mobile, musings, New Zealand, photography, Project Koru, quicklinks, rant, rave, travel and Windows Wed, 17 Mar 2010 05:52:53 +0000 hourly 1 By: A Jackson http://www.bioneural.net/feeder/?FeederAction=clicked&feed=Comments+on+Articles+%28RSS2%29&seed=http%3A%2F%2Fwww.bioneural.net%2F2007%2F08%2F21%2Ffinancial-affairs-in-new-zealand%2F%23comment-78610&seed_title=Financial+affairs+in+New+Zealand/comment-page-1/#comment-78610 A Jackson Mon, 05 Oct 2009 03:20:33 +0000 http://www.bioneural.net/2007/08/21/financial-affairs-in-new-zealand/#comment-78610 I am a self-employed American in NZ and I found it an absolute red tape nightmare. You still have to file U.S. returns along with IRD ones. There is no totalization agreement (google that). Currency fluctuations make predicting income irregular for the purposes of budgeting. Certain conditions have to be met before you can incorporate and stop having to file U.S. returns (you have to file these for 10 years otherwise). I am anxious to return home and do not consider that the move to NZ was beneficial to me - quite the contrary. The cost of living was much higher as well. Housing - through the roof. Quality for value was lower than at home. The professionals (accountants and lawyers) are much more expensive in NZ too, and it's hard to find a competent one who knows the tax systems of both countries and can advise you accordingly. Please do all your research. The laws are also always changing in both countries, so it behooves you to find someone knowledgeable. I am a self-employed American in NZ and I found it an absolute red tape nightmare. You still have to file U.S. returns along with IRD ones. There is no totalization agreement (google that). Currency fluctuations make predicting income irregular for the purposes of budgeting. Certain conditions have to be met before you can incorporate and stop having to file U.S. returns (you have to file these for 10 years otherwise). I am anxious to return home and do not consider that the move to NZ was beneficial to me - quite the contrary. The cost of living was much higher as well. Housing - through the roof. Quality for value was lower than at home. The professionals (accountants and lawyers) are much more expensive in NZ too, and it's hard to find a competent one who knows the tax systems of both countries and can advise you accordingly. Please do all your research. The laws are also always changing in both countries, so it behooves you to find someone knowledgeable.

]]> By: Bruce http://www.bioneural.net/feeder/?FeederAction=clicked&feed=Comments+on+Articles+%28RSS2%29&seed=http%3A%2F%2Fwww.bioneural.net%2F2007%2F08%2F21%2Ffinancial-affairs-in-new-zealand%2F%23comment-75846&seed_title=Financial+affairs+in+New+Zealand/comment-page-1/#comment-75846 Bruce Thu, 18 Oct 2007 19:11:25 +0000 http://www.bioneural.net/2007/08/21/financial-affairs-in-new-zealand/#comment-75846 <p>Gnorb I do feel obliged to point out that I'm not a tax consultant by profession! Rules change with time and circumstances, and sometimes you read one thing only to have it seemingly contradicted in the next thing you read. </p> <p>We really enjoyed our time in Wellington and would recommend it as a destination. Be aware that NZ is a small country (with a total population the size of Sydney) so things may work differently (in either a positive or negative way), and because of economies of scale choices may sometimes be limited (if you're coming from the UK, or perhaps the US and are used to much larger economies). Incomes are likely less than what you will be used to (it's not rich, for a developed country), so feeling "comfortable" depends on your attitude to the lifestyle/ work balance.</p> <p>Drop us a line if you have any questions; we may be able to answer them or a least give you some pointers (e.g. get you ADSL from Orcon!).</p> Gnorb I do feel obliged to point out that I'm not a tax consultant by profession! Rules change with time and circumstances, and sometimes you read one thing only to have it seemingly contradicted in the next thing you read.

We really enjoyed our time in Wellington and would recommend it as a destination. Be aware that NZ is a small country (with a total population the size of Sydney) so things may work differently (in either a positive or negative way), and because of economies of scale choices may sometimes be limited (if you're coming from the UK, or perhaps the US and are used to much larger economies). Incomes are likely less than what you will be used to (it's not rich, for a developed country), so feeling "comfortable" depends on your attitude to the lifestyle/ work balance.

Drop us a line if you have any questions; we may be able to answer them or a least give you some pointers (e.g. get you ADSL from Orcon!).

]]> By: Gnorb http://www.bioneural.net/feeder/?FeederAction=clicked&feed=Comments+on+Articles+%28RSS2%29&seed=http%3A%2F%2Fwww.bioneural.net%2F2007%2F08%2F21%2Ffinancial-affairs-in-new-zealand%2F%23comment-75845&seed_title=Financial+affairs+in+New+Zealand/comment-page-1/#comment-75845 Gnorb Thu, 18 Oct 2007 18:38:59 +0000 http://www.bioneural.net/2007/08/21/financial-affairs-in-new-zealand/#comment-75845 <p>My wife and I have been considering relocating from the US to New Zealand in the future. We're in the process now of researching (before we head there in exploration) and this post answers a lot of our questions regarding the tax system down there. Thanks!</p> My wife and I have been considering relocating from the US to New Zealand in the future. We're in the process now of researching (before we head there in exploration) and this post answers a lot of our questions regarding the tax system down there. Thanks!

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