New Zealand Inland Revenue has launched a public consultation on a draft Interpretation Statement (IS) on Tax Residence, which explains the tax residence rules in the Income Tax Act 2007 in relation to natural persons (individuals), companies, and trusts. This will update and replace IS 16/03: Tax Residence, issued on 20 September 2016. The draft IS is broken down into three main parts:
- Part 1: Tax residence of natural persons (individuals), which covers:
- how to determine whether a natural…