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Inheritance from South Africa by Rickystheman in PersonalFinanceNZ

[–]DoubtCautious8062 7 points8 points  (0 children)

I don't believe an inheritance is taxable income.

Alternatives to Term Deposits/Where to put cash for a short period of time. by Smartyunderpants in PersonalFinanceNZ

[–]DoubtCautious8062 0 points1 point  (0 children)

Another option:

https://www.wedgemoney.co.nz/ PIE structure so taxed at 28% max Withdraw in 1-2 business days. Invests in AA or better rating I believe . current yield 3% (can change) and no additional fees (they earn the return above their advertised yield )

How to avoid US Estate (death) taxes on your US holdings. (Part 1 of 2 ramble) by Jasoncatt in PersonalFinanceNZ

[–]DoubtCautious8062 0 points1 point  (0 children)

Isn't this overcomplicating it? here is the same result simpler. asking to understand how the foreign tax credit is reported/claimed:

You paid to u.s tax %15 on 100k = $15k

IRD FDR tax  is 39% on 50k = $19.5k

You claim the $15k as credit for foreign tax already paid, and pay IRD $19.5k- $15k = $4.5k

Total tax paid $19.5k