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Junior Member
Overseas investments and NZ tax
Hi,
I am looking to purchase some stocks on NYSE, NASDAQ, HKEX, etc. and am looking to understand what that means from an annual tax return in New Zealand perspective.
Somebody recently told me that if I buy overseas stock, and keep it for a year or longer (as in, don't day trade it) - than I am not subject to Capital Gains Tax in NZ. Is this true?
And the only tax I would need to pay would be ONLY any dividends - and this tax rate would according to my PIR rate in NZ.
Would appreciate if someone could shed some light on this.
Thank you,
NZT
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