New Zealand exempt from CGT on UK products

New Zealand's tax laws on UK-domiciled funds provide a potential source of business for UK intermediaries. Unit trusts, Oeics and investment trusts are effectively tax free to New Zealand residents because gains are classed as capital gains but the tax rate for this is zero on the UK-based products. Jonathan Fry, joint managing director of Premier Asset Management, said IFAs should be targeting New Zealanders as clients or look to form tie-ups with intermediaries in New Zealand. He said those intermediaries with a web presence would have an advantage when it came to marketing. He added ...