How to pay LESS TAX if you're a Resident of New Zealand
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- Опубликовано: 6 сен 2024
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Today we are talking about International Tax Planning for Residents of New Zealand.
Tax rates in this country are rising from 33% to 39%.
That's not low at all! However, in comparison to other developed countries, such as Canada, the US, and Western Europe New Zealand's original tax rate of 33% was not as high.
There are plenty of exemptions in this country, which is actually quite smart. Comparing to many other countries, their tax system actually made a lot of sense.
Just like we already said, the highest tax bracket in New Zealand is going to 39% for income over 180 000 New Zealand dollars per year. As you can see the threshold is quite low.
The corporate tax rate is 28%, which is also quite high.
Knowing all this how can you structure yourself so you legally pay less taxes if you live in New Zealand?
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We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
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Author: Michael Rosmer
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Thank you Michael for another interesting and informative video.
I would be interested to hear your thoughts on Australia and the ATO.
Will do. Spoiler they are worse than New Zealand
Yes, one for Aussies too, please!
Will do
@Gabriel yes soon!
Great video Mike. New Zealand is an amazing place to live. Let's do one for Australia as ATO is a bunch of psychos haha
Haha Nazis I agree
I'm half way through signing up with adsense for our small you tube channel, but the whole tax payments are making me reconsider. I can't imagine making enough to even pay tax
Imagine what a person could do with 39% more money for YOUR family.
Absolutely or heck even how much better you could do with the money for society than the government could.
You only pay 39% for money you earn over 180K a year.
@@jlumley Oh sorry I forgot, it is ONLY 39% of my work and production to pay the looters. I should be grateful.
@@VERTICALWisdom hey man, would be interested in doing business with your SaaS companies, trying to get some quick write offs for the year, would appreciate you dropping your email if you’re still around for business
NZ raises taxes…
Australia: hold my beer 🍺
Please a video about the advantage of moving to new zealand from germany.
can you actually do a whole video on source income? The thing that confuses me is how does this all work with things like ecommerce and especially cryptocurrency where the funds could be coming from potentially anywhere.
I did one a while back. It's tricky though and you need to get into the specifics on type of income and country as it varies somewhat.
If you're looking for specific advice the best is to book a call with me and we can go over it:
calendly.com/michael-rosmer/offshore-citizen-30-min?back=1&month=2020-11
1.6:00, 7:00
2
What about Australia ?
We can definitely make a video about it, stay tuned :)
@@OffshoreCitizen awesome
Mike, please mention the low cost of health care in NZ...it more than offsets the higher tax. I pay $33 dollars a week for hospital and specialist care.
Wow, that's amazing! Thanks for sharing.
Did you like the video?
@@OffshoreCitizen Yes liked and subscribed.
Nothing free middle class pay it
I don’t believe that’s relevant for most people who aren’t seeing a doctor every single week. Specialist care in the public system is sub par in quality with extreme wait times. The system
Is such that you basically need some type of health insurance regardless. Not offsetting higher tax at all.
Is there any way you can save tax on salary income ?
Relocate abroad?
I got offered a job in abu dhabi from nz how would i minimise my tax moving the money back into the country? @@OffshoreCitizen
New Zealand is a beautiful country with great leadership!
Half of that statement is true.
@@infiad1275 I hear that you disagree with the later part of my statement.
There's lots to appreciate about New Zealand. What are some of the highlights for you?
@@MichaelRosmer for me it is the amazing natural environment, the creativity of the people and how it influences every day living.the food quality is superb and communal spaces are warm and generously decorated with great design at a focus at all spectrums, whether it be an independent store or cafe right through to great commercial design.
In the North Island there is so much to explore and this is before even looking at the magic of the South Island.
The people are warm and friendly. I love that the indigenous culture is gaining continued respect and recognition. It has come a long way since the 90’s.
@@suzh5789 All good points but what do you love about NZ's "leadership"?
I live in NZ and for the first time I am actually OK with paying tax. Great infrastructure, almost free health care, basic pension and not too much waste of funds. I want to use all this, I got to pay for it. Just fair IMHO.
I wish the 30% tax bracket started at 50K. Its a simpler number to remember than 48K. With a 40 hour minimum wage sitting at 47.2K , its already creeping up to the 30% tax bracket. I think the 50K threshold would give a little more breathing room. Minimum wage shouldn't really be in the second tax bracket by principle, in my opinion.
How is the healthcare?