[evo80]

Hello.

I'm going to enter NZ with permanent residency but without a job and no IRD-number. So, my interest on savings on my NZ bank account is obviously 39%.

It is likely that I just fall in the 19.5%-tax-category in the tax year 2008/09 and thus, I would just like to pay 19.5% tax of my interests and not 39%. Can I claim this 'overcharge' with the tax-return form in April 2009?

Thanks in advance.
W.

[Rabbit]

From my own experience, when you open a bank account, you just tell them what your tax rate is, so 19.5 or 39% based on projected income. I went from 39% to 19.5% due to a change in circumstances, and just told the bank what the new rate was to be and they changed it. I also opened a bank account before requesting and recieving my IRD number, though later I did advise the bank.

Also, nothing to stop you requesting an IRD number (perhaps you should do so).

If you do not have an IRD number then it might be difficult to process a tax return.

Rabbit

[Nick88]

How are you going to file tax return if you don't have an IRD no?

Anyone can get one, thay don't seem to be very particular about PR status, etc. Why not get a number and let the bank know, that way you pay the correct tax? You can even apply online.

[evo80]

thanks for the quick replies

My plan is to find a job soon (hopefully very soon) and get an IRD number. (tricky thing is that I don't possess a 'document B - type' in order to get my verification for an IRD number - application)

Even if I got an IRD-number (based on no previous income in NZ), would that automatically mean that I will be just charged with 19,5% for interest tax purposes?

[cappuccino]

(tricky thing is that I don't possess a 'document B - type' in order to get my verification for an IRD number - application)



Evo80, you just need your passport to get the IRD number.

[Avalon]

Evo,

You need to apply for an IRD number as soon as possible.

The tax rate will not be 39% - it will be 45% which is the tax rate that is applied if you do not declare a rate and dont have an IRD number.

I have recently spoken to the Inland Revenue abouth this, and the rules changed in February of this year, so you can no longer apply for an IRD Number until you get to NZ.

However, the good news is (there has to be some) - that they will accept an Overseas Drivers Licence as a CatB document, so you will be able to get your IRD number sorted as soon as you arrive.

Hope that helps

Hxxx

[evo80]

Thanks for the info.
W.


Evo,

You need to apply for an IRD number as soon as possible.

The tax rate will not be 39% - it will be 45% which is the tax rate that is applied if you do not declare a rate and dont have an IRD number.

I have recently spoken to the Inland Revenue abouth this, and the rules changed in February of this year, so you can no longer apply for an IRD Number until you get to NZ.

However, the good news is (there has to be some) - that they will accept an Overseas Drivers Licence as a CatB document, so you will be able to get your IRD number sorted as soon as you arrive.

Hope that helps

Hxxx