Relocating to a new country is not a small decision; Ambler Collins aims to provide you with the most up-to-date and reliable information on important aspects
of life in the country your interested in moving to. Please see the menu below for more information on life in New Zealand.
Currency, Tax and Finance:
The currency in New Zealand is called the New Zealand dollar. There are $5, $10, $20, $50 and $100. There are 10c, 20c, 50c, $1 and $2 coins.
New Zealand has a very advanced banking system, and eftpos debit cards are more common than cash, even for small purchases. ATM machines are commonplace even in small rural areas. Banks are open from 9.00am to 4.30pm weekdays, with a few branches open 7 days a week in the major cities. Opening a bank account in New Zealand is relatively straight forward when compared to many countries. Most international currencies are accepted at banks and easily exchanged. All major credit cards are widely accepted shop, businesses and restaurants.
Taxes
New Zealand is not a heavily taxed society
Income tax in New Zealand is charged at the following rates:
| Income |
Tax Rate |
| $0 - $38,000 |
19.5% |
| $38,001 - $60,000 |
33% |
| Over $60,000 |
39% |
Businesses in New Zealand pay income tax on their net profit earned in any specific tax year. For most businesses the tax year runs from 1 April to 31 March.
New Zealand has no Capital gains tax, an attraction for many prospective investors. It also has no wealth tax, no stamp duty, and no estate duty.
A Goods and Services Tax (GST) of 12.5% is included in the price on most goods and services in New Zealand. Various things are exempt, like the purchase and the lease of residential property and finance. Financing charges on loans that are used to finance income-producing property are 100% tax deductible.
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