Simon Watts: Revenue Minister on the changes to the Foreign Investment Fund
The Mike Hosking Breakfast · Newstalk ZB
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Show Notes
The Revenue Minister's confident changes to the Foreign Investment Fund will greatly benefit tech and startup companies.
The Government's working on changes which would see new migrants taxed on a realisation basis for interests not easily disposable and acquired before coming to New Zealand.
It applies to migrants who became tax residents here on or after April last year.
Simon Watts told Mike Hosking this has been on the radar since he assumed the portfolio.
He says the system hits migrants —particularly returning Kiwis and those who are wealthy unfairly— and they've been getting good feedback on the changes.
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