Paying Tax

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

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Originally Posted by 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

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

Thank you for the help couta1, much appreciated.

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

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?

Quote:

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Originally Posted by 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?

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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/showthr...660-Tax-advice

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

Thanks for the assistance Jay.