Dunne: Australia-NZ double tax agreement a step closer
The introduction of a new double tax agreement between Australia and New Zealand took a further step towards completion this week, with the signing of an Order in Council that incorporates the agreement into New Zealand law, Revenue Minister Peter Dunne announced today.
"The new DTA recognises and updates our already close business relationship with Australia and will help to further reduce barriers to trade and investment," Mr Dunne said.
"The agreement will enter into force once both Australia and New Zealand have completed all stages of their respective ratification process.
"When that happens I expect the new DTA to bring significant benefits to New Zealand and improve certainty for trans-Tasman business.
The main features of the DTA include lower withholding taxes on dividend and royalty payments between the two countries and making pensions that are tax-free in one country also exempt in the other when recipients move across the Tasman.
Mark Stewart | Press Secretary | Office of Hon Peter Dunne
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