Migration Hub

So you’re thinking it may be time to come home. You have probably been living away longer than you expected and are wondering about what it’s like to live and work in New Zealand (or Australia) and what the opportunities are for you.

The hub has been developed by Covisory. Our mission put simply is to offer innovative services for our client’s business, trust, wealth & tax needs. We are based in Auckland and have both South Island and Australian connections.

It is our intention to provide you with basic concepts of advice and some options or how you may consider future activity. Our clients include working individuals, business owners, investors and retirees. We also offer estate management and Trustee services.

Our expertise covers:

New Zealand OverviewSpecific Issues for Returning KiwisTrusts and Returning KiwisMigrant TaxationWhy Work with Covisory?Immigration Consultancy Services

 

Key Points

  1. The key is to obtain advice before you come back to New Zealand, but some knowledge is certainly helpful. The key is to understand firstly whether you will be a transitional resident or not and then which aspects of New Zealand tax could adversely affect you. If you are a transitional resident, then timing at least provides a 48-month window for you to get a lot of these issues sorted.

  2. Trusts, in particular, are problematic where you have created a trust while you have been non-resident in New Zealand. Specific advice should be taken on trusts.

  3. Finally, while COVID has impacted on the ability to come to New Zealand because of the quarantine and travel restrictions, be careful that if you do come to New Zealand and then as a pre-cursor to moving back, and then return within 6 months, you may inadvertently become tax resident in New Zealand from that initial visit.

  4. Also, you will need to obtain specific advice in relation to your existing jurisdiction and breaking the tax residency there, along with the consequences to that.

Get in Touch now

+64 9 307 1777