Probably the worst case is to be a US citizen resident in New Zealand. Then you owe both the capital gains tax to the US, and the 1.4% FIF/FDR to NZ. According to my tax accountant, you can't even get a foreign tax credit in the US for the 1.4% in taxes paid to NZ because they're not "like" taxes.A 1.4% tax on holdings is probably even better than a 20% capital gains tax if you invest in an all-stock portfolio. Note, of course, that you do not have the choice of which of the two you pay unless you consider emigrating from New Zealand.
Statistics: Posted by aspiring_kiwi — Sun Aug 18, 2024 4:53 pm — Replies 15 — Views 2913