'The speed is good': Hitting fast forward on FIF changes may halt entrepreneur flight

Sam Blackman, back in hometown Rotorua, may stick around for a tax policy less punishing to startup founders. (Image: Supplied)

Garth Bray

Fri, 21 Mar 2025

A new capital gains tax on individuals at a 70% discount rate might seem like an odd win, but entrepreneurs who had planned to depart New Zealand before facing more immediate liability are now reconsidering as details emerge of rapid changes coming to the foreign investment fund (FIF) tax regime.“It significantly increases the likelihood of us sticking around,” Sam Blackman, an NZ entrepreneur among those making the case for change, said.Hard on the heels of an announcement last week timed for the infrastructure investment summit in...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets

Fed, tariff fears send Dow down over 900 points

Blue-chip index heads for its worst April since 1932.

The Wall Street Journal 10:30am

The Quiz Free

QuiznessDesk, Thursday, April 22

What type of animal is a sidewinder?Where in the human body would you find the Island of Reil?Where in Europe is Nicosia the capital of?Which city did the Romans call Eboracum? Originally called 40/50, what did Rolls-Royce's 1907 car later become known as?What was the surnam...

The Quizmaster 9:15am