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  1. #11
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    Jul 2013
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    No double currency risk if buying in US exchange via Aus broker but if you're buying any of the Vanguard ETFs listed on the ASX there is as you'll be buying/selling in AUDs.

    Is the death tax on $60k+ an Oz tax? Bit scary. Key is whether it applies to non-residents. The other thing I need to check is whether the Aussies have a FIF tax and how this would affect NZers buying US shares via an Oz broker (ie custodial).

  2. #12
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    Feb 2005
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    Auckland, , New Zealand.
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    3,227

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    Quote Originally Posted by mp52 View Post
    No double currency risk if buying in US exchange via Aus broker but if you're buying any of the Vanguard ETFs listed on the ASX there is as you'll be buying/selling in AUDs.

    Is the death tax on $60k+ an Oz tax? Bit scary. Key is whether it applies to non-residents. The other thing I need to check is whether the Aussies have a FIF tax and how this would affect NZers buying US shares via an Oz broker (ie custodial).
    If you are a NZ resident then you are taxed under NZ rules. Any tax deducted offshore from those investments can be claimed in your NZ tax return. Check out the IRD site for information and/or ask a tax expert before you invest.

  3. #13
    Junior Member
    Join Date
    May 2015
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    5

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    Hi all. Sorry for dragging up an old thread. But I stumbled across it in Google looking for options for purchasing NASDAQ stock. In case someone else does the same, I wanted to add my recent experience in trying to open an Options Express account. The short answer is it appears that New Zealanders can't any longer.

    The long answer can been seen in the below email. Which would have been nice to know before going through their entire application process, printing, signing and scanning documents to them. Especially when the very first step of the registration process asks where you reside. And there only two options. Australia and New Zealand. Just a bizarre waste of an hour, so this is a heads-up to others who try:

    Thank you for your recent interest in opening an account with optionsXpress Australia.

    Unfortunately, as a result of the introduction of the Financial Markets Conduct Act in New Zealand, international companies are now required to register to conduct business in New Zealand. optionsXpress, an international company, is not registered to do business in New Zealand and as a result we are currently unable to accept new account applications.
    We apologise for any inconvenience and encourage you to check back with us at a later date to determine if this situation has changed.

    Kind regards,

    Account Services
    I've just signed up at http://www.halifaxonline.co.nz/ as noted in the above post (thanks). Very simple initial process, but I still have to get my identity witnessed and posted (snail mail) to them. So I can't provide much more info on that yet.

  4. #14
    Advanced Member Entrep's Avatar
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    Mar 2008
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    1,859

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    I've opened accounts with schwab and etrade no probs

  5. #15
    Junior Member
    Join Date
    Jul 2015
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    Any other Etrade customers having to close their accounts due to NZ residency? I've copied a brief of this below;

    According to our records, you currently hold a stock plan account at E*TRADE Securities, as well as one or more linked retail brokerage accounts.

    As mentioned in our previous notice, E*TRADE Securities has decided to discontinue retail brokerage services in the near future for residents of New Zealand. Since your address of record is in New Zealand, your E*TRADE retail brokerage account(s) will be affected by this change. We apologize for any inconvenience this may cause, and have provided instructions below to help you begin the process of transferring the assets in your linked brokerage account(s) to another financial firm, or liquidate the assets and close the account(s).

  6. #16
    Advanced Member Entrep's Avatar
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    Mar 2008
    Posts
    1,859

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    Yup got that. I somehow have 0.648 shares in Stantander bank, I think from a DRP, not sure how I'm meant to sell them!

  7. #17
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    Aug 2015
    Posts
    284

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    I use td Waterhouse international based out of Luxembourg. Worked very well for 15 yrs, fees have recently changed which are good for people who are active for me less than ideal now but workable. When we moved overseas to a less 'desirable' country, td have let us continue as we were NZ residents when we opened our account...allows us multi currencies also and I hold an etf in euros paying a dividend that more than covers our quarterly fees.

  8. #18
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    Mar 2013
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    32

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    Does anyone have thoughts on Halifax's two platforms - Halifax Online or Trader Workstation (TWS)?

    Also, can you use both, or are you limited to one or the other?
    Last edited by iced; 16-08-2015 at 05:49 PM.

  9. #19
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    Join Date
    Feb 2015
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    37

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    I set up an account with https://www.tdameritrade.com early this year. The process was straight forward and they accept NZ residents. Couldn't do it online, had to fax or post the forms (I faxed)
    Most trades are $9.95. Trades are held as street and you can enable DRP on most holdings.

    I've used nzforex to fund it, which has worked fine.

  10. #20
    Member
    Join Date
    Sep 2007
    Posts
    400

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    interesting, how are the shares held, in custodial? Also are their tax issues, I have been told to not use US domiciled products as death duties will apply for non US residents.

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