New Zealand: Tax treaty with Canada

New Zealand: Tax treaty with Canada

A new income tax treaty between New Zealand and Canada, signed in 2012, has entered into force. The new treaty includes provisions for reduced withholding tax rates on interest, dividends, and royalties, effective from 1 August 2015.


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In a second development, legislation to implement the Inland Revenue’s business transformation plan has been introduced into Parliament. The bill would allow for electronic communications with taxpayers and for information sharing in a greater range of circumstances. There are also provisions for new rules for collecting tax on employee share scheme benefits. From 1 April 2017, employers would be able to deduct tax on benefits employees receive from employee share schemes under the PAYE regime. Currently, employees are responsible for meeting their tax obligations on employee share benefits.

Read a July 2015 report [PDF 516 KB] prepared by the KPMG member firm in New Zealand: Tax Mail

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