NZ tax Q & A

[glb0b]

Is it at all possible to be refunded for tax money if you have been working at a hagwon?

I don't believe so. I think that the tax excemption only applies to public schools. Hagwon teachers have to pay tax.

I have been receiving conflicting information regarding Nz'ers and the pension.
I have been on the NZ Immigration site that says NZ does not have an reciprocal arrangement with Korea hence I am not eligible to be refunded the contributions I am making into the pension fund, at the end of my contract.
A friend of my husband (a New Zealander) has been living in Korea, on and off, for the last 8 years. He has been home a couple of times and says he has not been refunded his pension.
My questions are - is it true that I will not receive my pension refund at the end of my year?
If I do not, do I have to keep making payments into something that I will not get back?
Many thanks

Sadly, you have to pay and you will not get the money back.

UK, Australia and NZ are some of the countries which do not receive pension money back.
You still have to pay it.  If you turn 65 years old and you're still here then you'll get it back.

Australia recently made an agreement so now Australians can get the money back. Lucky them!

[Daejeon]

Australia recently made an agreement so now Australians can get the money back. Lucky them!

My mum is Australian so I'm looking into getting an Aus passport. Can anyone see any potential glitches with this?

There are only pro's to being Australian.  You may have to learn how to say "fush and chups" properly.

[Rhodesian]

Here's another question

If you are a UK citizen and a NZ permanent resident, can I get my tax back and do I have to write to the NZ IRD for that non-resident headed paper letter that was mentioned?

[lotte world]

Here's another question

If you are a UK citizen and a NZ permanent resident, can I get my tax back and do I have to write to the NZ IRD for that non-resident headed paper letter that was mentioned?

Are you at a public school?  If so, you should qualify for tax-free status for the first two years as a UK citizen (this is stated in your contract).

You must have applied as a UK citizen, so you need to get your residency certificate (or equivalent) from the UK.

[phatnesian@gmail.com]

I read on a blog that if you were an NZ resident you would not eligable to redeem the Korean pension upon leaving. I was wondering if this is true? I checked a couple sites, but thought it might be best to ask.

Thanks

[karinapowys]

Thanks for all of the info!

Do I need to fill in this attached form with my letter from IRD?

Thanks,
Karina

[bawaugh]

Being a New Zealand Citizen does not get you the exemption.

When I rang the IRD I was told that I needed to be a New Zealand tax resident in order to obtain this exemption. The exemption was not able to be given to me, despite the fact I am a New Zealand Citizen, because it depended on being a New Zealand tax resident before I started living in Korea. Because I had spent the previous 4 years in Ireland I was not a tax resident and thus could not get this exemption.

[karinapowys]

Being a New Zealand Citizen does not get you the exemption.

When I rang the IRD I was told that I needed to be a New Zealand tax resident in order to obtain this exemption. The exemption was not able to be given to me, despite the fact I am a New Zealand Citizen, because it depended on being a New Zealand tax resident before I started living in Korea. Because I had spent the previous 4 years in Ireland I was not a tax resident and thus could not get this exemption.

Are you talking about pension refunds or tax exemption? 

[bawaugh]

I was referring to the Tax exemption.

For the Record the section of theNew Zealand/Korea double tax agreement which gives this benefit says

Article 21
Professors and teachers
1. A professor or teacher who is or was a resident of a Contracting State immediately before making a visit to the other Contracting State, and who, at the invitation of any university, college, school or other similar educational institution, which is recognised by the competent authority in that other Contracting State, visits that other Contracting State for a period not exceeding two years solely for the purpose of teaching or research or both at such educational institution shall be exempt from tax in that other Contracting State on any remuneration for such teaching or research.

2. The provisions of paragraph 1 shall not apply to income from personal services for research if such research is undertaken primarily for the private benefit of a specific person or persons

[blairfitz]

Yes it is a terrible system for us kiwis for sure but it is compulsory for us to pay pension and we do not get is back but sometimes the institute will be slightly dodgy and not pay it or they may use a private pension scheme that is possible to get the pension back. If you are lucky you will get it back but do not hold your breath.

[Powerdome]

Kiwis have to pay pension...but we dont get it back!