Please tell us what they are.Quote:
quote:Originally posted by Phaedrus
if you want to trade short-term like this, there are other stocks more suitable than MHI.
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Please tell us what they are.Quote:
quote:Originally posted by Phaedrus
if you want to trade short-term like this, there are other stocks more suitable than MHI.
Not sure being non resident makes a difference but that is for another thread.Quote:
quote:Originally posted by rmbbrave
(I don't pay tax on capital gains - I am an overseas resident for tax purposes.)
Rmbbrave-good for you-did not realise that it would be tax free.
Yes-if you can get a 3 day turnaround cycle that's great.
You could be right.Quote:
quote:Originally posted by CJ
Not sure being non resident makes a difference but that is for another thread.Quote:
quote:Originally posted by rmbbrave
(I don't pay tax on capital gains - I am an overseas resident for tax purposes.)
I pay 2% on dividends and interest so I suppose I should pay 2% on profits from trading in NZ as well. That would be about $4 then.
Sorry for off-subject comment.
2% on div? I thought that was just interest, and that divs had 10-15% witholding tax deducted?
You're right OE Kiwi - kind of.
According to my CEN didvidend statement.
I had 1300 shares and the divie was 10 cps.
So the dividend would be $130. But I also get a supplementary dividend of 1.7647 cps ($22.94) because I am a non-NZ resident - so the Total dividend for tax purposes is $152.94.
This figure is then taxed at 15% ie $22.94 which gives a Net Dividend of $130.
So basically the tax rate was zero.
In conclusion then...
Interest is taxed at 2%
Dividends have no tax
And profits from trading could be 2% or 15% or 0% - who knows?
Interesting. What does the country you are resident in say about your capital gains. I am also not Tax Resident in New Zealand, but my friendly local tax man has the same rules about captial gains, you trade for profit, rather than investment, you pay tax.Quote:
quote:
(I don't pay tax on capital gains - I am an overseas resident for tax purposes.)
Unless you are not telling the of course ;)
Good looking sales figures for the first 1/4 of the year. Aus now provides 3/4 of sales.
NZ same stores up 5.6%
Aus same stores up 5.4%
Can same stores up 13.3%
Tot same stores up 5.7%
NZ all stores up 8.0%
Aus all stores up 13.8%
Can all stores up 88.9%
Tot all stores up 13.8%
Jeweller 'tough enough'
05 November 2005
By GARETH VAUGHAN
Tougher times may be coming, but Michael Hill does not seem worried.
Mr Hill, chairman of jeweller Michael Hill International, told yesterday's annual meeting in Auckland that tougher trading conditions might "sort a few people out".
The company Michael Hill was solid, nimble and mean enough to be able to cope, Mr Hill said.
Furthermore, there could be some benefits as shopping centres might have to review "ridiculous" rental renewals and finding staff might get easier.
"Just keep your shares in that bottom draw. I don't think we'll disappoint you."
Sales in the three months to September rose 13.8 per cent to $56.6 million, with same-store sales up 5.7 per cent.
But trading conditions in Australia, where the jeweller makes 65 per cent of its revenue, had toughened up, chief executive Mike P****ll said. October had been flat.
"We're just not sure where the next quarter will go," he said.
General retailing conditions were deteriorating with high petrol prices hitting consumer confidence, Mr P****ll said. Heading into November and December, when the company makes a big chunk of its profit, "anything" could happen.
Mr Hill said the expansion drive would continue, focusing on "controlled, profitable" growth.
Michael Hill, which began as one jewellery shop in Whangarei in 1979, now comprises 156 stores. Of these, 102 are in Australia, 47 in New Zealand and seven in Canada. More are imminent.
Mr Hill said the company was opening a shop every two weeks and would have 2000 staff by Christmas.
There was potential in Australia for 150, or possibly more than 200 stores. There was also potential for "200-odd" shops in Canada, with the company likely to focus on the oil-rich province of Alberta during 2006 after securing its base in the Vancouver area.
Michael Hill planned to open two stores in New Zealand this year.
The company's shares closed at $7.65, up 5 cents.
NOTE : MHI's chief executive is Mike Par$ell
Thanks for the footnote - I was wondering what the **** was for!