I got e-mailed a bizzare survey from the NZX today with a series of very leading questions about the tax working groups recommendations?
Printable View
I got e-mailed a bizzare survey from the NZX today with a series of very leading questions about the tax working groups recommendations?
Yeah, i got that. It's an odd easy to do a partition, if that's what it is.
I wish someone was able to get the govt to clarify why the behavior of buying stock privately needs corrected, and why we should be instead forced to invest via low yeilding kiwisaver monopolies... err i mean companies.
Perhaps a different thread, but does anyone have any news on cgt? I thought it was due to be announced on April fools, but ive not been able to find anything. I'll probably ring my accountant tomorrow.
surveys on there website too. I agree current recommendations would dis tort the playing field in favour of investing only in funds .... maybe thats the plan by fund managers more fees. shame for the nzx though be very few people left to provide liquidity as most big volume is done off market
If I have to pay CGT on the shares I sell at a profit, will the Govt be refunding me when I sell at a loss?
It may not be the deathknell of private investment in stocks but it might see a reduction in trades as traders move to investors?
For example, if I was taking my profits from stocks to buy property, in the past I might sell stocks to get the capital gain out, whereas with CGT I would be better to leave the money invested and borrow against it. That way my tax remains unpaid.
Of course, extra tax on trades might make it harder for start up companies. Why take the risk investing in companies that you aren't sure will give long term gain.
On the other hand, is 70% of your "free money" enough of a disensentive to pull out of the stock game?
Bull.. 10000 today you reckon!
Well if it came in as CGT at marginal rates then I would trade a lot more. I often wish to sell something and buy back in at a lower price but am reluctant to do so lest I could be be proved to be trading. That concern would be gone.
It will still never happen.