If you have overseas investments
You have to pay tax on any foreign investments you have, even if you’re a newly arrived resident.
Overseas investments include:
pension schemes
shares in foreign companies
rental properties in another country
bank accounts.
The tax rules for foreign investments are complicated. They vary depending on what kind of investments you have and which country your investments are held in.
If you’ve received overseas income that’s also been taxed in another country, you may be entitled to a credit for the tax already paid. You’ll receive a credit for the smaller amount of tax you paid — either the tax due in NZ on that investment or the tax you paid overseas.
Most people with foreign investments seek professional advice from a tax agent or financial adviser to ensure they pay the right tax.