Advice and Support for South Africans Immigrating to New Zealand

South Africans Going To New Zealand

Author Topic: Tax on RA  (Read 2502 times)

Offline Amber

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Tax on RA
« on: May 12, 2013, 09:33:43 am »
Hi guys, I wonder if anybody knows the answer to this, we are in the process of getting our RAs paid here in N Z I know we pay SA tax but do we have to pay NZ tax once it is here?
Thanks
Faith is to believe what you do not yet see; the reward for this faith is to see what you believe



Offline thombatt

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Re: Tax on RA
« Reply #1 on: May 12, 2013, 09:00:26 pm »
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« Last Edit: September 04, 2013, 11:17:29 am by thombatt »

SA Going to NZ Advice Forum

Re: Tax on RA
« Reply #1 on: May 12, 2013, 09:00:26 pm »

Offline Amber

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Re: Tax on RA
« Reply #2 on: May 13, 2013, 02:39:49 am »
Thanks for that I guess I am going to have to see IRD and find out what I have to do.
Faith is to believe what you do not yet see; the reward for this faith is to see what you believe



Offline Siouxzee

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Re: Tax on RA
« Reply #3 on: May 14, 2013, 07:59:26 am »
Hi Amber
Please let us know what IRD say as we will be doing the same thing in a few months.
Sue
EOI Submission - December 2010
EOI Selected - December 2010
ITA Received - December 2010
Awaiting Police Clearance
ITA Submitted - 03 March 2011
PR Interview - 15 March 2011
PR Approved - 18 March 2011
Passports sent and then received back - 30 March 2011
Arrive in NZ - 19 June 2011

Offline Amber

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Re: Tax on RA
« Reply #4 on: May 20, 2013, 04:02:35 am »
Hi
Well I have spoken to IRD they will send me a booklet on the tax on overseas pensions I hope it has the information I am looking for because I felt almost like I was being fobbed off.  I will keep you posted
Faith is to believe what you do not yet see; the reward for this faith is to see what you believe



Offline Marz

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Re: Tax on RA
« Reply #5 on: August 15, 2013, 11:15:20 pm »
Ok... I've heard differently.  When did you immigrate to New Zealand?  If it's within the first 4 years of getting residency, you get a temporary tax exemption on foreign income.  I assumed it covered RA proceeds...

http://www.ird.govt.nz/yoursituation-nonres/move-nz/temp-tax-empt-foreign-inc.html

Exceptions to this exemption are :
Employment income from overseas employment performed while living in New Zealand.
Business income relating to services performed offshore.

Since it comes across as cash anyway, how would NZ IRD know that it's from a retirement annuity/superannuation policy?  It's just your savings you're bringing across, and as far as I can see it should not be taxed when you bring it into New Zealand?
Arrive in New Zealand : 3rd March 2012
Submit work permit application : 16th April
Submit EOI and selected: 18th April
Application received: 15 May
PR Granted in principle: 8 August 2012

Offline Feather

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Re: Tax on RA
« Reply #6 on: August 16, 2013, 12:57:22 am »
Hi there,  we got my DH's RA paid out a few years ago and didn't pay tax in NZ.  We paid the RSA tax and had the money transfered from our 'blocked account' in RSA to our NZ bank account. No tax had to be paid.  Things could have changed since then, this was back in 2010.

SA Going to NZ Advice Forum

Re: Tax on RA
« Reply #6 on: August 16, 2013, 12:57:22 am »

Offline thombatt

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Re: Tax on RA
« Reply #7 on: August 16, 2013, 01:19:15 am »
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« Last Edit: August 16, 2013, 01:22:47 am by thombatt »

Offline hotthereclan

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Tax on RA
« Reply #8 on: October 23, 2015, 10:48:37 am »
Hi,

Any update from anyone who has recently transferred their RA funds from SA to NZ?

I am aware there is or should be a DTA (Double Tax Agreement / Treaty) between SA and NZ which means tax should only be charged from the outgoing country.  Can anyone confirm this please?

Thanks.