AUD dividends to NZ

[Snow Leopard]

I find the way the Australian registries work rather frustrating in that they all seem to default to the cheque option (& send everything by post) when you first acquire shares in a company.

So about a week after buying shares I log on to the registry and fight my way round the user interface to manually enter my Oz bank account details, etc for this new company.

One I missed way back in 2011 when I left Australia for Malaysia resulted in me receiving a AU$ dividend cheque which it was not worth me trying to cash. The registry would not accept delayed direct payment information insisting that it had to be a cheque.

So every six months or so an alert appears at each and every log-in. Eventually to get rid of the annoyance I press the resend button but what happens next I do not know because I neither see the money in an account nor a cheque in the post, but I have bought another six months.

Best Wishes
Paper Tiger

[blackcap]

It becomes complicated when they have your holder number and bank account details(Confirmed) and the dividend still doesn't get swept into your account on the day they say it will, after already waiting over 2 weeks. Other than just keep ringing them(Aussie Registry)there is not much I can do to fix their broken broom.

Have you tried logging in to your "login" on the registry site? If your problems with the registry persist, I would suggest calling the company Telstra itself. You are after all the owner of TLS and therefore can tell them what they need to do.

[Snoopy]

Hi
Can anyone confirm if, with TLS bought on the NZ Market, any imputation credits can or cant be claimed?

The market on which you buy shares is irrelevant as to whether you can claim NZ imputation credits or not. If TLS paid out NZ imputation credits then, as an NZ taxpayer, you could claim them no matter where you bought your TLS shares. However, TLS only pay out Australian franking credits. So you can't claim any NZ imputation credits, because they don't exist.

SNOOPY

discl: hold TLS

[777]

Australian companies that pay dividends that accrue NZ imputation credits usually state the amount of the imputation that NZ residents can claim on the dividend notice. The Australian franking credits are for Australian residents.

[couta1]

Finally, I have just received my TLS divvy in my bank account after a marathon battle, phew pleased I won't be going through that again in a hurry as I no longer hold any Aussie shares.

[dragonz]

I have 2 australian companies IEL.ASX and OTW.ASW who will only pay dividends via an Australian Bank Account. Looking on the Link site they have no reinvestment plans and no Cheque options. Anyone else have this issue. Do I just write the dividends off?

[777]

Ask for cash. That will p*** them off and they might play ball.

Do you know anyone with a bank account in Australia?

[dragonz]

Ask for cash. That will p*** them off and they might play ball.

Do you know anyone with a bank account in Australia?

Yeah I should do that. I dont know if this has anything to do with it but my Australian holdings lodged with Computershare all have dividend reinvestment plans and option of cheques yet the two on Link services AU give you the option of Australian bank only. I will have to go back and look at their announcements .

[Cricketfan]

How do you register a NZ bank account on Link Market Services Australia? I only see Australian bank in the dropdown:

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[Citizen Erased]

A simple option now is to apply for a TransferWise debit Mastercard. They provide you with a local bank account number in each currency you add to your account. You can then convert your Australian dollars to New Zealand dollars for a 0.49% fee on the mid-market exchange rate. Way better than any bank offers.

[Cricketfan]

A simple option now is to apply for a TransferWise debit Mastercard. They provide you with a local bank account number in each currency you add to your account. You can then convert your Australian dollars to New Zealand dollars for a 0.49% fee on the mid-market exchange rate. Way better than any bank offers.

Cool, didn't know about that. I take it once you have money in NZD, you can transfer it to a regular bank account? Or do you have to spend it via purchase transactions?

[ratkin]

Kiwibank will not even cash low value aussie cheques anymore. From next year they will not process any cheques apparently, at least that is what the cashier told me yesterday

[percy]

No answers sorry.
I take DRP when avaliable with Australian companies.
Those that still pay by cheque I deposit with my broker Craigs, who bank it in my Australian cash management account.
Those who neither have DRP or pay by cheque, I have huge problems with.I give the share registry my Westpac bank account number together with Swift letters and numbers [WPACNZ2W].Always a lot of hassle and takes numerous phone calls and emails.Once I have received the funds into my bank a/c,usually a month, I then sell those shares, as I can't be bothered going through it again.

[Snow Leopard]

Cool, didn't know about that. I take it once you have money in NZD, you can transfer it to a regular bank account? Or do you have to spend it via purchase transactions?

Have a look here: https://transferwise.com/gb/borderless/

possibly paying particular attention to:
https://transferwise.com/help/17/bor...erless-account

and

https://transferwise.com/price-chang...erless-convert

Disc: Starting using Transferwise after discovering them via Sharetrader but not signed up for borderless yet.

[couta1]

Kiwibank will not even cash low value aussie cheques anymore. From next year they will not process any cheques apparently, at least that is what the cashier told me yesterday

That's correct from Feb next year Kiwibank are dead to all cheques no matter their origin.