Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Timing and quantifying rules - Controlled foreign company and foreign investment fund rules - Attributing interests in FIFs

EX 33: Exemption for Australian regulated superannuation savings

You could also call this:

“Australian super savings may be exempt from NZ tax”

If you’re a real person with money saved in certain Australian superannuation schemes, you might not have to pay New Zealand tax on those savings. This rule applies if your money is in one of these types of Australian funds:

  1. An Australian approved deposit fund
  2. An Australian exempt public sector superannuation scheme
  3. An Australian regulated superannuation fund
  4. An Australian retirement savings account

These types of savings are called ‘Foreign Investment Funds’ or FIFs, but the New Zealand government treats them differently from other overseas investments. You don’t have to report them as ‘attributing interests’, which means you don’t have to include them in your New Zealand tax calculations in the same way as other foreign investments.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1515526.

Topics:
Money and consumer rights > Taxes
Money and consumer rights > Savings and retirement
Previous

EX 32: Exemption for Australian unit trusts with adequate turnover or distributions, or

“Australian unit trusts exempt from FIF rules if they meet turnover or distribution requirements”

Next

EX 34: CFC rules exemption, or

“Exemption from FIF rules for certain CFCs in which you have a significant interest”

Part E Timing and quantifying rules
Controlled foreign company and foreign investment fund rules: Attributing interests in FIFs

EX 33Exemption for Australian regulated superannuation savings

  1. A person’s rights in a FIF are not an attributing interest if—

  2. the person is a natural person; and
    1. the FIF is a foreign superannuation scheme that is—
      1. an Australian approved deposit fund:
        1. an Australian exempt public sector superannuation scheme:
          1. an Australian regulated superannuation fund:
            1. an Australian retirement savings account.

            Notes
            • Section EX 33: replaced (with effect on 1 April 2014), on , by section 145 of the Taxation (Annual Rates for 2015–16, Research and Development, and Remedial Matters) Act 2016 (2016 No 1).