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  1. #16
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    Can't say I have noticed the banks holding on to money at all. In fact with transfers between banks being done all day long you tend to get the use of the money earlier and not after midnight as it used to be.

    In this case raised by waikare , he has his dividend paid into his broking account. I would guess we all use the same account number for our deposits when we transfer money to the broker and then they manually credit our personal broking account. This simply takes time,usaually by opening of market the next day, but you are credited with it on the actual day they receive it.

    I am sure waikare will pop up shortly and tell us all is well.
    Last edited by 777; 03-04-2017 at 05:10 PM.

  2. #17
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    Quote Originally Posted by Roger View Post
    This bean counting hound won't give free tax advice on this forum for a wide range of reasons but I suggest you ask yourself these questions first
    1. Does it really matter which year its included in especially if its fully imputed ?
    2. Will that make a material difference to your income for the year, (materiality is defined as 5% increase or decrease in gross income) ?
    3. Which year is it better for you to include this dividend in ?

    4. Another interesting question is why are we tending to see an increased incidence of bank payments sometimes being delayed by up to two business days ?
    5. Is there a trend developing in N.Z. where banks are hanging onto people's money longer than in previous years to boost their profit ? or is this just my cynical imagination at work ?

    Sorry lot's more questions than answers, if all that's too much I suggest you stick to question 1 only
    First to answer in response to Lawson's query, earlier this morning I checked with the IRD, by email so I guess it may take few days before I get a ruling as I am sure there must be a rule in place for this situation. There are two dividends in one is Telstra which is not really a problem, as it's a DRP and the statement will read payable 31/03/17, (statement not received as yet) and the shares will probably be allocated on that day therefore should be included in the 16/17 year. The other is Steel & Tube which is cash the payment dated as the 31/03/17.

    For me Roger it may matter as the income from STU may place me into the next tax bracket and I will miss out on reasonable tax refund, as I say it MAY MATTER, as I am very close reaching the limit at this point in time, but still have few more figures to come in yet.

    Earlier in the year I transferred some holdings into my wife's name a she is also a Gold Card holder, so I would remain in the lower tax bracket, but appears I should have added a couple more, that would have given me bit of breathing space.

  3. #18
    Gnawing on Bones Beagle's Avatar
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    Longer than a few days in my experience waikare. I would refer you to question 3 then
    No butts, hold no mutts, (unless they're the furry variety).

  4. #19
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    Quote Originally Posted by Roger View Post
    Longer than a few days in my experience waikare. I would refer you to question 3 then

    At this stage probably 2017/18 year, would keep me in my current tax bracket with a refund due.

  5. #20
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    Quote Originally Posted by 777 View Post
    Can't say I have noticed the banks holding on to money at all. In fact with transfers between banks being done all day long you tend to get the use of the money earlier and not after midnight as it used to be.
    Business accounts make payments only during weekdays, which is bloody annoying. Get paid on a Friday after about 10pm from X bank to YOUR bank and you'll likely miss the settlement window until the first settlement on Monday morning. Anything paid to/from during the weekend also settles Monday. There's no technical reason that I can see for it, just greedy banks leveraging our money.
    BAA

  6. #21
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    Quote Originally Posted by 777 View Post
    Well replied couta1

    And Waikari i think you will see the deposit early Monday morning in your account and it will show as deposited at 31st March 17.
    It's in my ANZ Securities act. this morning 4/4/17 dated the 31/03/17

  7. #22
    Trying to get outta here
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    Quote Originally Posted by waikare View Post
    It's in my ANZ Securities act. this morning 4/4/17 dated the 31/03/17
    Just as 777 and I thought, there's no need to complicate things unecessarily, not sure why some do.(Not talking about you waikare)
    Last edited by couta1; 04-04-2017 at 09:55 AM.

  8. #23
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    Received my reply from IRD that I sent in on the 3rd April, to quote: "The date on the certificate/statement will the be date you can use, as if we requested the evidence this is what we would use.''

  9. #24
    Trying to get outta here
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    Quote Originally Posted by waikare View Post
    Received my reply from IRD that I sent in on the 3rd April, to quote: "The date on the certificate/statement will the be date you can use, as if we requested the evidence this is what we would use.''
    Just as I said in post number 2 above.

  10. #25
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    On a different note: it took over a month to get a reply to my question from the IRD secured email service, but only a few days to get my refund, did a online application on Sat 6th May the refund was in my bank account on the morning of the 12th.

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