(September 23, 2014)
On September 12, 2014 Canada and New Zealand signed a Second Protocol to their existing Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income.
The Second Protocol provides an exclusive right to tax to New Zealand in respect of pensions paid by, or out of funds created by, the Government of New Zealand or a political subdivision thereof to any individual in respect of services rendered to the Government of New Zealand or subdivision thereof. This exclusive right to tax applies only to pensions paid under a Government Superannuation Fund scheme or a National Provident Fund scheme to individuals who became members of one of these schemes prior to 1996.
Canada and New Zealand will notify each other of the completion of their respective domestic procedures which are necessary to give force of law to the Second Protocol. The Second Protocol will enter into force on the date of the later of these notifications and its provisions will have effect from the date the Convention and the First Protocol enter into force.
Click here to be forwarded to the text of the Protocol as published on the website of the Canadian Department of Finance, which will open in a new window.
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