sharesies.nz

[justakiwi]

Info re this from Sharesies, to those who registered interest in US shares:

FIF tax
If you have over $50,000 NZD invested in overseas investments, you’ll be subject to the Foreign Investment Fund (FIF) tax rules. If you’re in this situation, Sharesies won’t be handling your tax for you and you should seek tax advice.
If you have less than $50,000 NZD invested in overseas investments, you don’t need to worry about this!

I think you will find you are correct. Sharesies and Hatch are no more no less like Direct Broking and ASB. Just a facilitator of a trade. It is up to the client to report to the IRD. Always has been the case. I think there are many new investors in NZ who have no idea what FIF is or even what trading profits are.

[Panda-NZ-]

Interesting to see how to us shares aspect of this is planned for.

[gains]

Someone previously suggested the strong market recovery could've been due to sharesies. Mainly novice investors just throwing some cash into stocks without any knowledge.

Will make today very interesting as we see trading commence, I imagine a lot of panic selling will happen if they are novice investors.. Today might prove the theory true or false..

[Saamee]

Does anyone have either the Mobile number or Email address for Brooke Roberts?? ( CEO of Sharesies )

Wish to contact her regarding poor customer service.....

[winner69]

IRD possibly going deem sharesies punters traders

Taxing the Sharsies generation
https://businessdesk.co.nz/article/o...ies-generation

[Muse]

IRD possibly going deem sharesies punters traders

Taxing the Sharsies generation
https://businessdesk.co.nz/article/o...ies-generation

Not necessarily against Sharesies users (that's just the headline) - but doing a big piece of work on how they will approach the gains not being report as income by "direct" / DIY investors that use platforms like Sharesies, other similar new platforms, as well as traditional ASB securities / Jarden direct etc. I read the IRD work programme this arvo not a lot in there but I've heard from my tax friends they expect the IRD to start doing a lot more risk reviews into people's investments and trades and issue more guidance on what they perceive to be capital and revenue account for people who invest directly.

[Snow Leopard]

InvestNow Still has the $30 Per annum fee, a $30 establishment fee per fund and annual admin of $12 or 18 if you want a paper statement.

https://investnow.co.nz/no-transacti...do-we-compare/

....

Go read that again, slowly & carefully, you may then spot that your statement above is incorrect in every detail .

Best Wishes
Paper Tiger

[SeanL]

Go read that again, slowly & carefully, you may then spot that your statement above is incorrect in every detail .

Best Wishes
Paper Tiger

Who has time to read things slowly and correctly - well picked

[jonu]

Who has time to read things slowly and correctly - well picked

Wisely spoken. It pays not to mess with the Tiger