Tax & Accounting
The Business Advisory Group
The Business Advisory Group is based in Auckland and specialises in providing accounting, taxation and business advice to both high net worth individuals and businesses. Their New Zealand tax expertise makes them especially valuable for expats who are moving to Auckland to live and work, or to set up their own business.
Their highly experienced team of chartered accountants take the time to understand each client’s unique needs. The Business Advisory Group can help you with all your personal and business tax needs, including preparing your annual individual tax return, or the financial statements and annual tax return for your business.
Tax & Accounting for Expats in Auckland
It is recommended that expats moving to Auckland seek tax advice before making the move. Depending on what assets you own and their ownership structure, you may have tax obligations while in Auckland even if certain income is not earnt in New Zealand.
Key Tax & Accounting tips you should know as an expat in Auckland
- The amount of personal tax payable in Auckland depends on whether you are considered to be a resident for tax purposes. It is advisable that you seek tax advice upon arriving in Auckland to understand the implications of your residency.
- The personal tax rate payable runs on a tired system based on how much you earn in a financial year. A financial year runs from 1 April to 31 March.
- Expats living in Auckland are generally taxed on their worldwide income. You should seek tax advice to get an understanding of your tax obligations when arriving in Auckland.
- Be aware that allowances that may be tax-free in your home country (such as living-away-from-home allowances) are generally fully taxable in Auckland.
- Your employer will deduct your tax payable from your salary or wages throughout the year. Over or under payment of personal tax will be rectified when you file your personal tax return at the end of the financial year.
Tax & Accounting for expats establishing a business in Auckland
Auckland has been ranked 1st out of 190 world cities in the World Bank’s ‘Ease of Doing Business’ Index.
If you’re moving to Auckland to start a business, it’s important to have a basic understanding of business taxes in New Zealand. For example:
- Businesses in New Zealand are required to register for an IRD (tax) number with the Inland Revenue Department.
- The rate of tax a business pays in New Zealand depends on whether it trades through a partnership, trust, company or sole proprietor structure.
- New Zealand also has a consumer tax called the ‘goods and services tax (GST)’. The GST rate is 15%.
Download the Tax & Accounting Auckland Chapter
The Tax & Accounting Auckland Chapter written by Sudhir Lala, The Business Advisory Group, provides further detailed information about issues you need to be aware of in regards to taxes in Auckland.DOWNLOAD NOW