Tax: What You Need to Know 

  • If you’re moving to NZ for a permanent role, you’ll be on your employer’s payroll and PAYE (pay as you earn) tax will be deducted automatically.
  • You can apply for your tax ID (IRD number) before arriving, but it’s much simpler to do it once you land.
  • Applying as a ‘new arrival’ means you don’t have to send extra ID documents to Inland Revenue.
  • Once your passport is scanned and your visa is verified at the airport, you can submit your IRD application online.
  • Then pop into your nearest NZAA Centre with your passport, Immigration NZ number, and overseas tax number (if you have one) to confirm your identity.
  • Expedite the process by paying $20, and you’ll get your IRD number by text or email in 2–3 days, and a physical copy in the mail within 2 weeks.
  • Bring your IRD number and bank account details with you on your first day of work.
  • More details on tax codes, rates, and deductions here. 
  • NZ has a Double Tax Agreement (DTA) with a number of countries to avoid tax being charged twice on the same income. Read the full list of participating countries here. 

Banking in NZ 

  • Good Together recommends BNZ, but you can also bank with Kiwi-owned Kiwibank and The Cooperative Bank, or big players Westpac, ANZ, and ASB. 
  • You can open a New Zealand bank account using your existing tax number then update it when you get your NZ IRD number. Once you’re in NZ, take your passport, visa and proof of address to the bank to verify your identity and activate the account. Any deposits made prior to arrival are then accessible.
  • Buying a home? Check out the latest interest rates before making a move. 
  • Insurance & loans – bundling home, car, and income protection insurance with your bank can save you money! 
  • More banking FAQs? BNZ’s blog has you covered here. 

Insurance

  • Health insurance isn’t required in NZ, but some people choose private cover for faster access to specialists or elective surgeries. Check out Southern Cross or NIB and compare plans. 
  • Income Protection Insurance – Not essential, but it provides peace of mind in case of illness or job loss. Banks offer options, or check out KiwiCover, AIA, and Pinnacle Life. 
  • Looking for advice? Good Together works with Financial Independence, a team of runners, skiers, and adventure lovers who can match you with an advisor who “gets” your lifestyle. 

Indemnity Insurance: Cover for Health Practitioners 

  • Nurses: If you’re a member of the College of Nurses Aotearoa or NZNO, you already have access to indemnity cover. 
  • Doctors & Nurse Practitioners: We recommend NZMII for professional indemnity insurance – and when Good Together introduces you, you’ll get 20% off your first year! Look out for an email with your special discount. 

KiwiSaver

  • Your employer is required to pay a minimum of 3% of your gross salary to this national retirement saving scheme.
  • Your own contribution can be anywhere from 3-10% and you can make additional voluntary contributions.
  • If you are on a temporary visa, you’re exempt from paying into the KiwiSaver scheme.
  • You’re able to withdraw all your KiwiSaver payments if you leave New Zealand before retirement.
  • If you stay in New Zealand permanently, you can transfer your UK pension to your retirement fund in New Zealand.

Cost of Living: What to Expect 

  • NZ’s cost of living varies depending on where you settle and your lifestyle. Compare expenses based on your income, location, and spending habits with this handy calculator.