紐西蘭政府正在推動改變外國投資基金 (FIF) 規則的計劃，以便一些新移民可以避免繳納抵達前獲得的未實現 FIF 權益的資本利得稅。該決定是在 2024 年 12 月舉行的磋商之後做出的。
現行的 FIF 制度對紐西蘭居民持有的外國公司投資組合權益中少於 10% 的應稅收入進行評估，旨在確保與國內投資相比，海外投資不會為紐西蘭帶來稅收優勢。該國的稅收制度通常不對資本利得徵稅，但對於外商投資基金而言，按年度對視同收入徵稅，而不是對股息和銷售收益徵稅，這在國際上是不尋常的。
紐西蘭稅務局指出，“移民通常在不了解 FIF 規則的情況下進行投資，並且可能無法組織起來以支付視同收入而非實際收入的稅款。”對於抵達前獲得的非流動性投資來說，這尤其是一個問題，但即使對於移民後的投資，在另一個國家仍需在全球範圍內納稅的移民可能會因新西蘭 FIF 制度的特殊性質而面臨雙重徵稅。由於 FIF 稅是在實現之前的幾年徵收的，並且徵收的對像是視同收入而非實際收入，因此支付的 FIF 稅不能抵扣出售投資時徵收的外國稅。
政府目前計劃採用收入帳戶法來對這些移民和投資徵稅。因此，從 2025 年 4 月 1 日起，他們的年收入將被評估為收到的股息，加上已實現資本收益的 70%。
任何於 2024 年 4 月 1 日或之後成為完全稅務居民的新移民均可使用該方法。這意味著該方法適用於 2020 年 4 月 1 日或之後成為過渡居民的新移民。如果信託的主要委託人能夠針對特定的 FIF 權益使用該方法，則受託人也可以使用收入帳戶方法。
還有其他資格標準。資產不得輕易被處置；例如，它們可能是非上市股票。然而，那些因繼續履行公民納稅義務而面臨這些資產被雙重徵稅風險的外國人將能夠為其所有 FIF 權益申請免稅。
對於短期居民也採取了威懾措施。如果某人將新收入帳戶方法應用於其 FIF 權益，然後不再是紐西蘭居民，則需要繳納退出稅。根據退出稅，他們將被視為在喪失居住權之前立即按市場價值出售了所持股票。退出稅的具體細節將在確定後公佈。
政府將在八月的預算法案中立法規定這些條款。
New Zealand government to go ahead with CGT exemption for immigrant investors
The New Zealand government is proceeding with plans to change the foreign investment fund (FIF) rules so that some new immigrants can avoid paying capital gains tax on unrealised FIF interests acquired before they arrived. The decision follows a consultation held in December 2024.
The current FIF regime assesses the taxable income of New Zealand residents from holdings of less than 10 per cent portfolio interests in foreign companies and is designed to ensure there is no New Zealand tax advantage from investing offshore compared to investing domestically. The country's tax system does not generally tax capital gains, but for FIFs it is internationally unusual in taxing deemed income on an annual basis, rather than taxing on dividends and proceeds of sale.
‘Migrants will generally have made their investments without awareness of the FIF rules and may not be organised so that they can fund the tax on deemed, rather than actual, income’, the NZ Inland Revenue notes. This is particularly a problem for illiquid investments acquired before arrival, but even for post-immigration investments, immigrants who remain subject to tax on a worldwide basis in another country may face double taxation arising from the unusual nature of New Zealand's FIF regime. Because the FIF tax is imposed in years before realisation and on deemed rather than actual income, FIF taxes paid may not be creditable against foreign taxes charged on the sale of the investment.
The government now plans to switch to a revenue account method for taxing such immigrants and investments. From 1 April 2025 onward their annual income would therefore be assessed as dividends received, plus 70 per cent of realised capital gains.
Any new migrant who became fully tax-resident on or after 1 April 2024 can use the method. This means the method can be applied by a new migrant who became a transitional resident on or after 1 April 2020. Returning New Zealanders would also be able to use the revenue account method, but only if they have not been tax-resident for an as yet undetermined minimum number of years. The revenue account method will also be available to trustees, if the trust's principal settlor would be able to use the method in relation to the particular FIF interest.
There are also other eligibility criteria. The assets must not be easily disposable; they could, for example, be unlisted shares. However, foreign nationals who risk being double taxed on these assets due to their continuing citizenship tax obligations will be able to claim exemption for all their FIF interests.
There is also a deterrent measure for short-term residents. A person who applies the new revenue account method to their FIF interests and then ceases to be New Zealand-resident will be subject to an exit tax. Under the exit tax, they will be treated as if they had sold their shares for their market value immediately before the loss of residence. The details of the exit tax will be published when determined.
The government will legislate the provisions in the August budget Bill.
Sources:
New Zealand government
NZ Inland Revenue (briefing, PDF)
NZ Inland Revenue (December 2024 consultation, PDF)