Skip to main content

NZ Tax Services for Migrants and Expats from Hong Kong

Hong Kong expats and migrants who are NZ tax residents are required to return overseas sourced income unless they qualify for transitional residency status (i.e. four-year foreign income exemption – find more information here).

However, there are two exemptions to the transitional residency rule: foreign employment and foreign personal services income. This means, for instance, if the Hong Kong expat/migrant continues to receive Hong Kong employment or personal services income after arriving in NZ, they may still need to return this income in their NZ income tax return.

In addition, the NZ income tax treatment for foreign-sourced income can be different to the income tax treatment of NZ sourced income. We list some examples below.

  • Interest expense limitation on residential rental does not apply to Hong Kong properties
  • Hong Kong superannuation withdrawal may be subject to the foreign superannuation withdrawal rules
  • Foreign dividends may be taxed under the foreign investment fund rules.
  • Foreign denominated loans may be subject to the financial arrangement rules

If foreign income had been omitted in historic years, the return of foreign income to IRD for the relevant period might result in IRD imposing both use of money interest and penalties.

NZ Double Tax Treaty help for Hong Kong expats

We can advise whether the Hong Kong expat/migrant has NZ income tax filing obligations and whether he/she qualifies for the four-year foreign income exemption.

Suppose the Hong Kong expat/migrant has an NZ income tax filing obligation. In that case, we can advise whether a double tax treaty exists for the relevant country to eliminate double taxation on the same income. If a double tax treaty exists, we can advise you on the relevant articles and help you determine what location has the first taxing right and should claim the foreign tax credits. Our team can also consider the foreign tax paid and calculate the maximum foreign tax credits claimable in your NZ income tax return to ensure you are not overpaying NZ tax.

Foreign Income Tax Exemptions for Hong Kong Expats

If the Hong Kong expat/migrant qualifies for the four-year foreign income exemption, we can assist with tax planning so an informed decision can be made to keep or dispose of the foreign assets and investments before transitional residency status expires.

Voluntary Disclosure for Hong Kong Expats in NZ

Where foreign income had been excluded in past years, we can help with the preparation and submission of a voluntary disclosure letter to the Inland Revenue and request for the remission of penalties and possibly interest dependent on the circumstances of the case.

Need Help With Returning Overseas Income?

If you need assistance with tax implications on foreign income, tax planning before foreign income exemption expires or “catching-up” omitted overseas income in past years, get in touch with our team, who can advise how we can assist and add value.

Please refer to our people to learn who we are, our experience and how we can help.

We offer a free no-obligation consultation where we can discuss

  • Your overseas income and investments;
  • highlight issues and opportunities; and
  • how we can add value and assist.
Contact Us

Specialist Areas

We specialise in cross border tax for migrants/expats, taxation on land transactions, IRD disputes and resolutions and small and medium business tax. We can speak Cantonese, Mandarin and English.

IRD Voluntary Disclosure Helo


International tax planning, foreign trusts and tax compliance services

Learn More
Property Tax Accountant NZ


Residential and commercial property advice and tax services

Learn More
Business Accounting NZ


Income tax, GST returns and financial statements

Learn More



Becoming a non-NZ tax resident

Becoming a non-NZ tax resident – Podcast

Recently, our Director, Connie Lui, did a recent podcast with Shiraz Waheed, a tax accountant based in Germany/UAE, re becoming…
November 26, 2023
cross-border worker

Tax changes proposed for cross border workers

Cross-border workers and businesses in NZ often find it challenging to navigate the NZ tax rules. If there are errors…
September 9, 2022
tax strategy

More financial support for businesses most affected by Omicron

The government is extending three forms of financial support to businesses that have been heavily affected by recent Omicron outbreak.…
February 24, 2022
View All Blogs

Our Locations