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Income Tax Act 2007

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

EX 41: Income interest of non-resident or transitional resident

You could also call this:

“Rules for reporting foreign investments when moving to New Zealand”

This law talks about when you own part of a foreign investment fund (FIF). It only applies to certain types of rights in a FIF.

You don’t have to report your share in a FIF if you meet all of these conditions:

You’re a real person, not a company or organisation. You bought your share in the FIF when you were living outside New Zealand or when you were new to living in New Zealand. At the time you bought it, you were still living outside New Zealand or were new to living here.

If you want to know more about the types of rights this applies to, you can look at section EX 29(3) or (4).

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1515544.

Topics:
Money and consumer rights > Taxes
Immigration and citizenship > Visas
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“Exemption for certain overseas investments affected by exchange controls”

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

EX 41Income interest of non-resident or transitional resident

  1. Subsection (2) applies only to rights described in section EX 29(3) or (4).

  2. A person’s rights in a FIF at any time are not an attributing interest if—

  3. the person is a natural person; and
    1. the person acquires the rights when a non-resident or transitional resident; and
      1. at the time, the person is a non-resident or transitional resident.

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