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Yes, I may have that wrong. At the time I was a contractor so the fear was the following situation per "If you're a New Zealand resident, you're taxed on your w
by agentile 9y ago
Yes, I may have that wrong. At the time I was a contractor so the fear was the following situation per "If you're a New Zealand resident, you're taxed on your worldwide income."
If we wanted to eventually become residents of NZ, which we did, and I was obtaining income in the US, NZ and US would both tax me for that income.
It seemed, however, less likely that NZ would approve me for immigration if I was not intending to contribute my talents to a company within NZ, so in that case, if I obtained a job in NZ, I would be taxed in NZ, and US would again tax me as well for that income due to US citizenship.
- EduardoBautista 9y ago> NZ and US would both tax me for that income. Declaring your income does not mean that both will tax you.
- Taniwha 9y agoyes there is a tax treaty, you can write off tax you pay in one country in the other - so no double taxation - remember NZ income taxes are lower than US ones (especially when you include social security and state taxes)
- nathan_f77 9y ago> NZ and US would both tax me for that income. Yes, the US will tax US citizens on worldwide income, but not if you are paying taxes in another country and earning less than $100,000 USD per year: https://en.wikipedia.org/wiki/Foreign_earned_income_exclusion https://en.wikipedia.org/wiki/Foreign_earned_income_exclusio... It's totally fine to live in New Zealand and work as a contractor for companies in other countries. I think it might actually be better, since you're bringing money into the country.