Quote Originally Posted by Snoopy View Post
Not sure why you did a search when you have already been to the IRD and they have given you the answer. The bit in bold answers your question.

The only time the proceeds of 'selling a right' would be taxable, would be if you bought those rights with the intention of selling them to make a profit
It's the same deal with head shares.

SNOOPY

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Cheers Snoop, obvious now you point it out.