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  1. 10-08-2020, 03:05 PM #1
    ratkin
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    Quote Originally Posted by blackcap View Post
    I think you will find you are correct. Sharesies and Hatch are no more no less like Direct Broking and ASB. Just a facilitator of a trade. It is up to the client to report to the IRD. Always has been the case. I think there are many new investors in NZ who have no idea what FIF is or even what trading profits are.
    To be fair FIF is a diabolical invention that needs a massive overhaul. This 50k limit is ridiculous as is the big long list of what is, and is not exempt, it one big confusing mess.
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  2. 10-08-2020, 03:20 PM #2
    blackcap
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    Quote Originally Posted by ratkin View Post
    To be fair FIF is a diabolical invention that needs a massive overhaul. This 50k limit is ridiculous as is the big long list of what is, and is not exempt, it one big confusing mess.
    Totally agree. If they made the limit $1m it would make more sense. At that level you have the economies of scale to hire an accountant/software to work it all out for you. Anything under that is a joke.
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