Matthew Harris

These are big changes.

No one likes to be taxed more.

I don't think anyway.

No shade on Hamilton.

I love you, Hamilton.

Yeah, I love Hamilton too.

Just to save this podcast.

Just to save the podcast.

In all seriousness, though, this isn't the first time that New Zealand's been referred to as a tax haven, actually.

We have a number of things in our tax system which...

for other countries, look quite appealing.

So no capital gains tax, for example.

But we also have things like foreign trusts, which don't pay tax on offshore income.

And unlike Australia, because that's the point of this podcast, we don't tax residents and non-residents any differently.

So I think it's fair to...

say that new zealand is a tax haven especially in particular to these changes um new zealand trusts were like globally renowned for being very easy to learn i don't want to derail this podcast we do a whole one on foreign um trust yeah yeah you can like money laundering yeah yeah good stuff okay well let's uh move it up back along james didn't want to do that yeah yeah no we're not going to be talking about uh money laundering on uh this podcast so i guess for decades

So New Zealand's had that for a little while.

What that means, in short, is that if you make a loss from a rental property, so your expenses are higher than your income.

Which most normal rental properties are.

Yeah, it would be pretty common to have a negatively geared property.