New to New Zealand? Here is how the money side works.

Where do you stand? Tick what you have already dealt with.

Be honest. The unticked boxes are where newcomers most often lose money in the first year or two.

• 1 Know your tax residency position Your residency date decides how your income and overseas assets are taxed here. Confirm it early.
• 2 Set up the New Zealand basics An IRD number, the right tax code and a bank account are the foundation for everything else.
• 3 Understand KiwiSaver properly It is not like retirement savings elsewhere. Access is restricted, so how you set it up matters.
• 4 Plan the move of overseas money Exchange rates, fees and timing can cost thousands. Do not rush the transfer.
• 5 Check how overseas assets and income are treated Overseas investments, pensions and rental income can be taxed differently here and at home.
• 6 Get the right insurance in place ACC covers accidents, not illness. Health, income protection and life cover are separate decisions.
• 7 Understand credit and borrowing here Your overseas credit history may not carry over, and lenders treat overseas income differently.
• 8 Get a plan before you buy property or commit to products Check the rules that apply to your visa and residency first. Plan first, product second.

A checklist tells you what to ask. A plan tells you what to do.

If you left several boxes empty, that is normal, and it is the reason a written plan exists. See what a Statement of Advice looks like, or browse the other free tools.