Date posted: 14/05/2020

Submission on PUB00310: Tax issues arising from ownership of overseas rental property

CA ANZ recently provided feedback on draft interpretation statement PUB00310. The interpretation statement provides a detailed explanation of the tax issues that a New Zealand tax resident individual may need to consider if they own overseas rental property.

CA ANZ recently provided feedback on draft interpretation statement PUB00310. The interpretation statement provides a detailed explanation of the tax issues that a New Zealand tax resident individual may need to consider if they own overseas rental property. 

We welcome the publication of this interpretation statement because information published currently by Inland Revenue on this topic is very limited. It includes:

  • IR website guidance on renting out an overseas property
  • IR264 Rental income, and
  • QB 11/01: Residential investment property or properties in Australia owned by New Zealand Resident – NRWT treatment of interest paid to Australian financial institution. 

The draft statement is well written and will be a useful resource for tax agents and taxpayers. 

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