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Old 24-04-2006, 07:23 AM
Julian
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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.
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Old 24-04-2006, 10:19 AM
SteveyC
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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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