The Australian tax year runs from 1st July to 30th June. The New Zealand tax year runs from 1 April to 31st March.
Pre retirement, Australia has very few tax free products which can be used in financial planning. Common tax advantaged strategies include negative gearing on property or receiving franked dividends on shares. New Zealand benefits from having no capital gains tax as well as having tax advantages portfolio investment entity schemes (including some favourable overseas options).
The Australian superannuation system is primarily centred on a fund based system, with tax concessions being provided prior to retirement and tax free drawings being the norm once the Australian preservation age has been met. In New Zealand, main options include KiwiSaver superannuation and concessionally taxed PIE schemes.
Further, a series of valuable tax concessions apply to emigrants to Australia and New Zealand based on visa class and whether or not people are new or long term returning residents.
Such tax concessions are fundamental to consider in the design of any pension or financial strategy for residents/emigrants or expatriates associated with these countries.
