SearchOverseas tax query
Claudia asks:
(updated on Friday, November 03rd 2017)
I live in New Zealand but have a property overseas. Do I have to include this income as "rental income" or "overseas income" on my IR3 tax return?
Our Experts Answer:
It should be shown as overseas income. This is because you are allowed to claim a credit in New Zealand for the tax already paid in the country where the income is derived, but this tax credit is limited to the tax rate applicable to your New Zealand income.
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