NZ signs trans-Tasman tax deal

New Zealand and Australia have signed a new double tax agreement which Revenue Minister Peter Dunne says which have "significant benefits" for New Zealanders.

The updated agreement, which will replace the existing 1995 double tax agreement, is the outcome of more than a year's negotiations between the two countries.

It will come into force once both countries have given legal effect to it, which in New Zealand will occur through an Order in Council expected to be signed later this year.

- NZPA