How to Transfer Money from Australia to New Zealand
Australia to New Zealand Guide
Summary
The closeness of economic and political relations between Australia and New Zealand is manifest in the number of benefits and exemptions for Australian citizens in New Zealand compared to other all other foreign nationals. There are no restrictions on transferring money from Australia to New Zealand.
Visas, work permits and residency
Australian Nationals are generally allowed to work and live in New Zealand if they have a valid Australian passport and are of good character. All other nationals require visas and work permits.
Additionally, if you are an Australian permanent resident planning to move to New Zealand with a valid passport, you will typically be granted a residence class visa (at the airport) which allows you to enter and work or study in New Zealand.
Buying property in New Zealand
Permanent residents of New Zealand do not have restrictions owning property. An Australian national resident in New Zealand may approach the property market and rent or purchase land in the same way that New Zealanders can. Restrictions do not apply to the size of the plot or the value of the land.
Australians who are not residents of New Zealand may be classified as an overseas person. In this instance, they need to obtain approval under New Zealands Overseas Investment Regulations to be able to buy significant assets in New Zealand. The definition of significant assets is business or property valued at more than NZ$50m, property over five hectares in size or worth more than NZ$10m, and sensitive land over 0.4 hectares, which is typically located on islands or linked to wildlife reserves. Ownership levels under 25% would typically not be deemed control and are not restricted.
Australians seeking to invest in New Zealand who are not New Zealand residents should seek specialist advice to understand whether they fall under the conditions described in Visas, work permits and residency.
Taxation
New Zealand residents in Australia will be taxed on their income earned there, independent of whether the money is transferred back to New Zealand or not since New Zealand tax residents are generally taxed on their worldwide income. Australian citizens in New Zealand are subject to tax on their income earned in New Zealand activities.
Voting
New Zealand permanent residents who are Australians who have one years residency and are at least 18 years old are eligible to vote in New Zealand.
Australians studying in New Zealand
Australian citizens as well as permanent residents are classified in New Zealand as domestic students and therefore are not required to have student visas if they wish to study in New Zealand.
Reciprocal healthcare agreement
Australia has a reciprocal healthcare agreement with New Zealand. This means that Australian citizens and permanent residents of Australia who are only temporarily visiting New Zealand are able to access public hospital services, medication, or maternity services on the same terms that would apply to New Zealand nationals. There are some restrictions depending on the extent of the care.
Importing from New Zealand to Australia
Australia and New Zealand have one of the closest economic relationships in the world, with the Australia New Zealand Closer Economic Relations Trade Agreement (known as ANZCERTA or the CER Agreement) is one of the most comprehensive bilateral free trade agreements in existence. It covers substantially all trans-Tasman trade in goods, including agricultural products, and was the first to include free trade in services. Since ANZCERTA entered into force in 1983, the two way trade in goods between the two countries has expanded at an annual average of 8%. Imports to Australia from New Zealand have grown nearly ten-fold since 1983 to A$8.9bn (NZ$9.9bn) in 2013. with New Zealand Australias ninth largest source of imports.
Frequently Asked Questions
Are the money transfer companies shown above safe to use?
Yes, all the companies are safe and fully-regulated money transfer services.
Each are authorised and regulated by the relevant authority such as the Financial
Conduct Authority(FCA) in the UK, FinCEN in the US, FinTRAC in Canada or ASIC in Australia.
How long does an international money transfer take?
The speed of delivery will depend on where the money is being from and to and how
you are sending and receiving the money. Transfers sent using bank to bank transfers
can depend take anywhere from minutes to days and you should check the time estimates
from the relevant provider. Debit and credit card payments sometimes allow for faster
transfers for smaller amounts.
How do I use FXcompared?
First review the comparison results (such as for a table above) for a given amount
of money sending from Australia to New Zealand. Then select a provider based on
factors such as price, speed, their rating and click the green button to be taken to
their website. From there, you can register and sign up for an account. Once you have
done that and the provider has verified your identity to ensure the money can be send
safely, you will be ready to transfer money.
What payments methods can I use to send money overseas?
The results shown above are typically for bank to bank transfers. It is possible
via some providers to pay in your funds for the transfer via cash, debit or credit
cards as well but this is usually reserved for smaller amounts. Some providers also
give you different options for how the money will be received - to a bank account
(most common), to a debit card, to cash or to a digital or mobile wallet.
What if the price shown above isn’t exactly what I am offered when I try to transfer money?
There can be a number of reasons why the final price you are offered may be different
to that shown in the table above. Exchange rates between two currencies change all
the time and is the most common reason. Additionally, some providers offer different
pricing depending what method you are using to send funds or how the funds will be
received. Others may offer you a premium service for faster payments. In some cases
FXcompared has a special rate with a provider and this is reserved for first time
customers who sign up to the provider starting from FXcompared’s website.
As prices do change often, be sure to confirm the total cost with the provider
before transferring money.
How we make money
FXcompared is an independent, advertising-supported comparison service where we have commercial relationships with some of the providers listed. When you use us to sign up to a money transfer provider we have a commercial relationship with, we get either a flat fee or a commission from the provider you choose but this does not cost you anything extra and our site is free to use. The ability for companies to sign-up and retain customers may impact how and where these providers appear on this site, including, for example, the order in which they may appear within listing categories but you may reorder the listings. Other factors, such as our own proprietary website rules and the likelihood of a customer being on-boarded to a provider impact how and where products appear on this site. FXcompared does not include the entire universe of available international money transfer companies.
Exchange rates update frequently and the pricing shown in the comparison tables is indicative only and based on a first time transfer for a new customer signing up via FXcompared. The pricing does not reflect any special rates individual customers may be offered by a provider, either on sign up or rates for any repeat transfers and there may be other lower priced providers not listed on FXcompared. FXcompared is not an FX trading platform and should not be used to inform any FX trading decisions.
All reviews are prepared by FXcompared. Opinions expressed therein are solely those of the reviewer. The information presented in the review is accurate as of the date of the review. Check with the providers directly for the most current information.
Your Feedback
We welcome all suggestions for improvements. Send us an email at support@fxcompared.com.
Latest Money Transfer News Articles for Australia