Legislation passed in the 2024 Taxation (Emergency Response and Contingency Planning) Bill allows for a simpler, more flexible regime from 1 April 2026.
This is the Transfer Scheme Withholding Tax (TSWT). A flat 28% “scheme pays” mechanism for eligible transfers to NZ QROPS superannuation schemes.
This is ideal if you are in a 33% to 39% marginal tax bracket or have a large transfer.
