Haha yes indeed... there is that inherent risk involved there as well.... :) But I trust him!
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In practical terms, after reading numerous FIF threads on here, I take this to mean I can buy 50K of e.g. Vanguard total market index ETF on the ASX and sit on it for eternity and as long as I never purchase any other share outside of the IRD approved list, I will never have to pay any FIF tax on the holding except tax on dividends (if any)?
But if the value increases over $50000 in the following tax year, FIF is triggered
Cost price was how I interpreted it from IRD website, but needed a second opinion :t_up: