| Provider | Amount Received | Fee | Exchange Rate | Speed | ||
|---|---|---|---|---|---|---|
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OFX (prev. OzForex) | NZD $10,656.43 | No Fee | 1.0656 | 1-3 days | more... |
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TorFX | NZD $10,683.34 | No Fee | 1.0683 | 1-3 days | more... |
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Moneycorp | NZD $10,510.04 | No Fee | 1.051 | 1-3 days | more... |
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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.
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.
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.
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.
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.
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.
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.
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.
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All the providers listed are regulated by the relevant authority (e.g. the FCA in the UK, FinCEN in the US, ASIC in Australia) and have been vetted by FXcompared.
FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended. FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.
