First, and this is not always as obvious as you might think, New Zealand’s tax system is very different from that of the UK. For starters, there is no tax-free personal allowance, so every dollar of income is taxed.
Secondly, although there is no formal capital gains tax in New Zealand, almost all capital gains are taxable in one form or another. This is particularly relevant for the taxation of investments, the rules for which are highly unusual. A key point to remember is that your taxable income can often exceed the cash receipts from dividends.