FIF rules expanded in Budget’s tax reforms

Budget 2026

4 mins to read

Key points

What's at stake: The Government has set aside $73 million in the Budget as it expands the Foreign Investment Fund (FIF) tax rules to all New Zealand taxpayers. There will be tweaks to the Research & Development Tax Incentive, including a lower cap for non-administrative internal software, allowing in-year payments, later return deadlines, and more opportunities for mining businesses.
Background: Prior to today’s budget announcement, people with more than $50,000 directly invested in offshore assets, including shares in listed companies, needed to pay tax on a portion of the value of their investments, regardless of whether they receive any income from them or not.
Main players: Foreign investors, Nicola Willis, Coalition Government.

The Government has set aside $73 million as it expands the Foreign Investment Fund (FIF) tax rules to all New Zealand taxpayers.

It is part of a suite of changes to the tax system in the 2026 Budget, which also cover research and development and tax credits, shareholder loans, and donations made to

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Nicholas Pointon Thu, 28 May 2026

Contact the Writer: nicholas@nbr.co.nz

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