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FED:Australia-NZ tax banter leads to rugby league quip

A pitch for Australians to relocate to New Zealand and avoid Labor's tax shake-up has been laughed off as "cheeky" by the nations' respective leaders.

New Zealand's finance minister, Nicola Willis, in May said Australians should invest and move across the ditch to avoid Prime Minister Anthony Albanese's contentious capital gains tax.

Mr Albanese, in Noosa for an annual two-day meeting to discuss trade, defence and foreign affairs with Kiwi counterpart Christopher Luxon, was asked about the migration call.

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