Paying Tax

[milt1968]

Very basic question.

Do I need to declare anything/pay any tax on the small amount of shares that I hold?

I have a small portfolio of about 25k in 3 stocks. I am planning on holding for a while and not trading frequently.

This should mean I do not need to worry about tax, correct?

Had a quick read online and from what I gather to be taxed from shares you need to be trading frequently etc.

Thanks

[couta1]

Very basic question.

Do I need to declare anything/pay any tax on the small amount of shares that I hold?

I have a small portfolio of about 25k in 3 stocks. I am planning on holding for a while and not trading frequently.

This should mean I do not need to worry about tax, correct?

Had a quick read online and from what I gather to be taxed from shares you need to be trading frequently etc.

Thanks No is the answer as you have not purchased with the primary intent of selling them for a profit

[milt1968]

Thank you for the help couta1, much appreciated.

[artemis]

There may be tax to pay on dividends if they were paid to you without imputation credits or withholding tax.

[milt1968]

I dont have any dividend payments incoming. At what approximate point do I move to being classed as a trader, and my tax responsibilities change?

[Jay]

I dont have any dividend payments incoming. At what approximate point do I move to being classed as a trader, and my tax responsibilities change?

This had been discussed on here a number of times milt. Do a search on this area of the forum or try here as a starter http://www.sharetrader.co.nz/showthread.php?9660-Tax-advice

Some might say, when the IRD decides you are :-)

[milt1968]

Thanks for the assistance Jay.