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TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 17145
Experience:  International tax
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Wire transfers from UnitedKingdom is there tax to pat

Customer Question

wire transfers from UnitedKingdom is there tax to pat
Submitted: 2 years ago.
Category: Tax
Expert:  TaxRobin replied 2 years ago.
HelloIf you are asking if you would be taxed in New Zealand on transfers from the UK, you could have tax.The tax is not on the transfer action but If you have foreign currency and then you become NZ resident, when you finally change that money into NZ$, you are subject to tax on any movement in the exchange rate from the date you enter NZ to the date you actually exchange the money. The transfer is not a taxable event but tax depends on where you are resident.I hope that is helpful.
Expert:  TaxRobin replied 2 years ago.
If my answer addressed your question please rate below or above (let me know if you have difficulty as I believe the system changed), if you need more information reply below.