The new Australia-New Zealand Double Tax Agreement signed off two days ago has important and beneficial implications for the corporate sector as it lowers or removes withholding taxes on:
- Royalties, and
- Lease payments in respect of commercial personal property located in New Zealand.
The new DTA replaces the 1995 DTA and will come into effect at 1 April after it is ratified by both countries.
Chapman Tripp will send out a detailed analysis of the new DTA within the next few days. In the meantime, more information is available here.