UK certificated shares

[SilverBack]

You still have to declare any income the holdings make.

Same rules as for any shares. Depends whether you bought them as an investment or for trading. Any dividends are taxable in either case and possibly bonus share issues, depending on the details of the issue. The UNfair dividend tax rule applies to capital gain/loss at end of year unless your total foreign investments are under $50K, excluding most (but not all) AUS listed companies.

[peat]

We (Equity Investment Advisers) are working towards a process that will assist NZ'ers to divest US/UK holdings - but dont have one yet
I will update this thread with any useful developments.

[BeeBop]

We have had an account with TD Waterhouse International for around 17 years. We opened it when we lived in Asia, used it when we lived in NZ, and now use it extensively as we live outside of NZ again. When we were in NZ, our holdings were low but we merely provided documentation/statement of holdings at tax time (below the threshold). An account with TD will cost you around 20GBP per quarter provided you make one buy or sell per quarter. Entry into funds is "free" provided you hold for one year. HOWEVER, they have just sold their business to Interative Investor (will be second hand change since we have been with them), so maybe charges will change. Very easy to deal with other than checks for laundering - currently based out of Luxembourg. You may like to see if you can transfer your holdings into that platform and maintain them.

[777]

Same rules as for any shares. Depends whether you bought them as an investment or for trading. Any dividends are taxable in either case and possibly bonus share issues, depending on the details of the issue. The UNfair dividend tax rule applies to capital gain/loss at end of year unless your total foreign investments are under $50K, excluding most (but not all) AUS listed companies.

Not unfair at all. I pay a lot less tax under the FDR than I did with taxing of Australian Funds distribution because of their high distribution rate. Long may it last.

My point in my post was that the original poster still has to go through the hassle of declaring small amounts as dividends and it is a pain in the butt so easier to get rid of them. I am with him on that.

[SilverBack]

In effect the FDR is a capital gains tax. It applies whether the overseas company pays a dividend or not. If a dividend is paid then this is still taxed separately as income. If you quit your Aussie fund and buy AUS shares instead then you can avoid this tax (but still pay tax on dividends, less any witholding tax applied in AUS).

[777]

In effect the FDR is a capital gains tax. It applies whether the overseas company pays a dividend or not. If a dividend is paid then this is still taxed separately as income. If you quit your Aussie fund and buy AUS shares instead then you can avoid this tax (but still pay tax on dividends, less any witholding tax applied in AUS).

Not so. The dividend/distribution is included in the 5%. It is not additional to it. And the if the difference in value year on year pus the distribution is less than 5% then you pay tax on the lesser amount by the CV method. Me thinks you need to update yourself.

[SilverBack]

Will do. I have kept under the limit thus far and so exempt.

[sb9]

We (Equity Investment Advisers) are working towards a process that will assist NZ'ers to divest US/UK holdings - but dont have one yet
I will update this thread with any useful developments.

Thanks for that Peat, have a very small (less than 200) holding in Vodafone UK which my wife got when she worked there as part of employee share plan.

Tried to sell through ASB Sec, the amount of fees and other costs they've indicated meant we'll have nothing left after all that.

Let us know when this service is available through you guys.

[Interested_Party]

We (Equity Investment Advisers) are working towards a process that will assist NZ'ers to divest US/UK holdings - but dont have one yet
I will update this thread with any useful developments.

Thanks Peat! It would appear that I stuck my head in the sand for another year. Did you come up with a process for this??? I'm hoping so. Also someone else asked me if I was over the $50K. I'm definitely over that and pay FIF tax. It's the ridiculously small stuff I want to get rid of.

[peat]

Thanks Peat! It would appear that I stuck my head in the sand for another year. Did you come up with a process for this??? I'm hoping so. Also someone else asked me if I was over the $50K. I'm definitely over that and pay FIF tax. It's the ridiculously small stuff I want to get rid of.

I've sent you a PM IP.