Buying Australian Shares for Dividends.

[Waiuta]

What is the most efficient way for Kiwis to account for Australian dividends?

[Snow Leopard]

Perhaps you should give a little more information so that we have some possibility of understanding what it is that you are actually asking about.

You looking for software to track dividends?
Direct share holding vs ETF?"
The FIF regime?
Best country to emigrate to for tax purposes?
Other?

[freddagg]

Perhaps you should give a little more information so that we have some possibility of understanding what it is that you are actually asking about.

You looking for software to track dividends?
Direct share holding vs ETF?"
The FIF regime?
Best country to emigrate to for tax purposes?
Other?

I would certainly be interested in your thoughts on number 4 especially if Labour manage to bring in a CGT that doesn't account for inflation or capital loss.

[Waiuta]

What is the most efficient way for Kiwis to account for Australian dividends?

I'm just unsure what the tax implications are. Here in NZ we get dividend certs and can account for RWT and imputation credits. I don't have any Aust dividend shares at present but am looking at some and am wondering if it makes sense to have an Aust bank account .
Sorry if I didn't make the query clear but I really want to get it right.

[Snow Leopard]

OK.

This here link (https://www.ird.govt.nz/international/nzwithos/investments/overseas-investments-index.html#shares) is the NZ IRD on tax on [dividends on] foreign shares, note the FIF bit.

I have shares in Australian companies, of whom most will only pay dividends into an Australian Bank Account.
If you can not open such an account you will need to deal with a broker who can help out with that.

For freddagg, I have been living in Malaysia for a number of years, and hope to live in Malaysia for a few more years yet, and that works out well for me.

[shasta]

Franking credits on ASX dividends aren't able to be claimed for NZ tax residents, however any RWT/NRWT can be.

Most banks/trading platforms have multi currency cash management accounts that you can deposit ASX dividends into.

You just need to provide bank account details to the relevant share registry ie Computershare.

I use ANZ Securities/now Direct Broking, very simple to set up.