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Thread: Money Questions

  1. #1
    Julian's Avatar
    Julian is offline Member
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    Default Money Questions

    Q1. Can a non resident deposit funds in NZ - any strings?
    Q2. If so, do the funds attract Inheritance Tax upon that persons death?

    My 85 year old Mother-in-Law has asked me to put these questions to you knowledgeable folks out there.

  2. #2
    SteveyC's Avatar
    SteveyC is offline Right Royal Pain In The Posterior
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    Default Money Questions

    1.) Yes apart from non-residents tax as far as I know.
    2.) Not sure if any of our members have been out there for long enough to find out but I would imagine that it's a considerable tax wrangle if there is no intention to stay in NZ but probably possible people do it often as far as I can tell but get arrested if found out.

    Surely it's the same as any other tax evasion, wasn;t it Rod Stewart who couldn't enter the UK for ages cos if he did he's get arrested cos he was wanted for defrauding the income tax system.

    I could be completely wrong but I'm sure if it was straight up simple, almost everyone would do it in some country or another, not necessarily NZ.

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