• New Zealand Regions
      • Hawke's Bay
      • Bay of Plenty
      • Waikato
      • Whanganui
      • Manawatu
      • Northland
      • Auckland
      • Gisborne
      • Taranaki
      • Wellington
      • West Coast
      • Nelson
      • Canterbury
      • Otago
      • Marlborough
      • Southland
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      Hawke's Bay

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      Beaches, wineries and Art Deco. The Hawke's Bay has a diverse economy, including business services that support its sectors to be the second largest contributor to regional GDP in the country. A popular tourist destination, the region has some of the countries best restaurants as well as stunning scenery, markets and festivals.

      Districts

      HastingsNapier

      Bay of Plenty

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      The Bay of Plenty is officially New Zealand's sunniest destination, enjoying short-lived winters and long summer days. The Region offers some of the country's most spectacular views and many ways to enjoy the pristine scenery and natural wonders. Visitors also enjoy exploring the Bay's Māori heritage and pre-European roots.

      Districts

      OpotikiOpotiki iSiteKawerauWhakatane

      Waikato

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      The Waikato is known for its rolling plains, fertile land and the mighty Waikato River. The region is the fourth largest regional economy in New Zealand, with a strong focus on primary production and associated manufacturing.

      Districts

      South WaikatoWaikato District

      Whanganui

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      Welcome to Whanganui. This is our place; where history is full of stories, legends and rich legacy. Where a thriving arts scene, creativity and evolving culture inspire our modern lives. Where breath-taking natural landscapes capture imaginations at every turn.

      Manawatu

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      Located in the lower North Island, Manawatu is heartland New Zealand, offering an authentic Kiwi experience.

      The main in the region are Palmerston North, most notable for Massey University. Palmerston has a vibrant, arts and culture scene.

      The region's economy is based on food production and processing, research and education. The region is also home for the New Zealand defence force.

      Northland

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      Northland was originally home to some of our country's first human inhabitants. Today, it is one of the fastest growing regions in New Zealand and home to nearly 189,000 people. Rich in culture and history, the region boasts a stunning natural environment.

      Auckland

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      Auckland Region stretches from the the beaches of the Pacific Ocean in the east to the expansive beaches of the rugged west coast of the Tasman Sea. Auckland City, the largest urban area in New Zealand is considered the main economic center of New Zealand and a popular destination for international students and travellers.

      Gisborne

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      Gisborne is a Region on the east coast of New Zealand's North Island. It's known for wineries and surf beaches such as Makorori. The region has maintained a strong Maori heritage. The region's economy is made up mainly of agriculture, horticulture and forestry.

      Taranaki

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      Taranaki is a coastal and mountainous region on the western side of New Zealand's North Island. Its landscape is dominated by Mount Taranaki, its namesake volcano, which lies within the rainforested Egmont National Park.

      The port city of New Plymouth is the area's cultural and commercial hub. Taranaki's economy is diverse and includes dairy, oil and gas. The region is the highest contributor or national GDP per capita. 

      Wellington

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      The Wellington Region covers Wellington city in the south, Upper and Lower Hutt valleys to the north-east, and Porirua to the north-west. The region takes its name from Wellington, New Zealand's capital city.

      Wellington is famous for its arts and culture scene and is also the centre of New Zealand's film industry.

      West Coast

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      The West Coast, or as some locals call it, the "Wild West", is a long thin region that runs down the South Island's west coast.

      The region has the lowest population in all of New Zealand. It is famous for its rugged natural scenery such as the Pancake Rocks, the Blue Pools of Haast, and the glaciers.

      The main industries in the region are dairy farming and mining. Tourism also plays an important role.

      Nelson – Tasman

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      Nelson Tasman is an extraordinary, vibrant region where art and businesses thrive together among a stunning natural landscape. With one in five people internationally born, Nelson Tasman has 48 different cultures living in its environs.

      The region prides its self on being New Zealand’s leading Research and Development areas, with the highest proportion of people working in the research, science and tech sectors out of anywhere in New Zealand.

      Canterbury

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      Canterbury is a region on New Zealand’s South Island marked by grassy plains, clear lakes and snow-capped mountains. Its largest city, Christchurch, is famed for its art scene and green spaces.

      Otago

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      There are few places in the world which will leave you with a lasting sense of difference. Central Otago is undoubtedly one of them from its landscapes, its seasons, its people, its products and experiences.

      Marlborough

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      Marlborough Region is on the north-eastern corner of the South Island. The region is well known for its winemaking industry, and the Marlborough Sounds, an extensive network of coastal waterways, peninsulas and islands.

      Apart from the wine industry, aquaculture, agriculture and tourism play an important role in the local economy.

      Southland

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      Southland is New Zealand’s most southerly region and includes the World Heritage ranked Fiordland National Park.

      The region's only city Invercargill offers a relaxed pace of life with wide streets, little traffic, spacious parks and gardens, striking Victorian and Edwardian architecture and impressive sporting facilities including New Zealand’s first indoor velodrome. Southland's location is such that views of Aurora Australis or the Southern Lights are common.

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Taxation – Income tax

(a) Scope of income tax
New Zealand income tax is imposed on the world-wide income of New Zealand residents. Income of non-residents is also subject to income tax to the extent that income has a New Zealand source (although the liability may be reduced by operation of an applicable double tax agreement (DTA)). “Income” includes most receipts on revenue account as well as some gains that would be classified as capital gains in other jurisdictions.

 

(b) Income tax rates
The graduated tax rates for individuals for income (including personal services income) are as follows:

  • 10.5% for income up to NZ$14,000 per annum;
  • 17.5% for income between NZ$14,001 and NZ$48,000 per annum;
  • 30% for income between NZ$48,001 and NZ$70,000 per annum; and
  • 33% for income in excess of NZ$70,000 per annum.

All forms of employment income are taxable on a gross basis. No deductions are allowed for expenditure incurred in deriving employment income. Employers withhold tax from salary and wage payments under the Pay As You Earn (PAYE) system. In addition, as of 1 April 2017 employers also have the ability to use the PAYE rules to satisfy an employee’s tax liability in relation to benefits received under employee share schemes.
Self-employed individuals pay tax at the same rates, but on a net basis – they are allowed deductions for expenditure incurred in deriving their income.
Companies (including New Zealand subsidiaries and branches of foreign companies) and other business taxpayers are taxed on their net income after allowable deductions. The company tax rate is 28%.
Trustees are taxed on their net income at 33%. However, net trust income treated as beneficiary income is taxed at the beneficiary’s marginal tax rate. New Zealand’s trust tax rules are primarily based on the residence of the settlor:

  • non-New Zealand sourced income of New Zealand resident trustees of certain trusts with no New Zealand resident settlor is exempt (provided certain registration and ongoing disclosure requirements are met); and 
  • in some situations, New Zealand resident settlors of trusts can be liable for tax on income derived by non-resident trustees.

 

(c) Income tax residence
An individual is resident in New Zealand for income tax purposes if:

  • they have a permanent place of abode in New Zealand, even if they also have a permanent place of abode overseas; or
  • they spend more than 183 days in aggregate in any 12 month period in New Zealand, regardless of whether or not they have a permanent place of abode in New Zealand.
  • Resident tiebreaker provisions also apply for the purpose of DTAs.

A company is resident in New Zealand for income tax purposes if:

  • it is incorporated in New Zealand;
  • its head office is in New Zealand;
  • its centre of management is in New Zealand; or
  • New Zealand is the place from which the directors exercise control of the company (whether or not exclusively).

If a company is resident in New Zealand, and also resident under the domestic laws of the country with which New Zealand has a DTA (discussed further below), the “tiebreaker” provision in that agreement will determine where the company is considered resident for the purposes of applying the DTA.
Corporate dual residence is generally undesirable under New Zealand domestic tax rules. For example, a dual resident company that is deemed non-resident in New Zealand for the purposes of a DTA, cannot operate an imputation credit account.

 

(d) Deductions Taxpayers
carrying on a business are generally entitled to deductions against assessable income for operating expenditure and interest incurred in the business, subject to thin capitalisation and transfer-pricing constraints for foreign-owned businesses (discussed further below). Business taxpayers are also generally entitled to amortising depreciation deductions based on the cost of capital assets used in the business.

 

(e) Net Losses
Net losses can generally be carried forward by non-corporate taxpayers without restriction. Under current rules, companies must maintain minimum 49% shareholder continuity from the tax year in which losses are incurred to the future year in which they are to be offset against net income. However, it has been announced that even if such continuity is not maintained, carry forward of losses incurred from 1 April 2020 will be permitted if the company meets a “same or similar business” test. Legislation introducing this new regime is awaited.