Tax on Funds from outside NZ

[ShellBda]

Hello,

Can anyone tell me whether any money that I bring or have transferred to a NZ bank (before I obtain residency) is taxable?

If I open a bank account now, in advance of my moving to NZ, would any funds I deposit into the account be taxed?

Thanks,
Shell

[Taffy]

Hi,

You're not taxed on just depositing money to your account, but if you were earning interest it would be taxed at the 39% non residents rate.

[ShellBda]

Thanks Taffy. Would the tax be 39% of the deposit amount and/or just the interest?

[Taffy]

Just the interest. It's called resident withholding tax, for some strange reason!