An article in last week’s Round Town News by Christine Brady of Blacktower, which has caused a number of our clients in that region to contact us panicking because they believe they are going to suffer tax at source of up to 33% on any lump sum or income taken from the New Zealand QROPS we have arranged.
We are not surprised by this reaction as the article is at best confusing, if not deliberately misleading.
Nowhere in this article does it make clear that the change taking place next year only applies to NZ residents and not to expats resident in Spain or anywhere else.
It is therefore confusing why this article has been published as I assume the Costa Blanca has as many New Zealand residents with a QROPS who read the RTN as you have in the Costas who read the EWN.
If you receive a similar article from Blacktower for publication in your excellent paper perhaps you may wish to consider what benefit it will be to your readership, unless of course it clearly indicates that this article is only of interest to NZ residents.
Can I take this opportunity to thank you for your help with our ads, and articles this year. I am genuinely very pleased with new “kingsize” layout, which continues to bring in good quality enquiries.
May I wish you and Michel a VERY HAPPY CHRISTMAS and continuing success un 2013.