Quote Originally Posted by Snoopy View Post
Correct. The only paper trail available to support this FIF law is purchase receipts. That is why the FIF law is drafted as it is.

However, in this time of antagonism towards cheques, that is forcing shareholders into Dividend Reinvestment Plans, those DRP purchases do count as purchases, even though no more cash from NZ is flowing overseas. So in such circumstances, it wouldn't be difficult for a $45k investment to creep over that $50k limit.

SNOOPY
Thank-you - so overall it would be difficult: the investor would need to decide to start with an initial portfolio that had no distributions at all - a listed fund of some type and just let it run...but funds shares can turn bad. Although sell, return it to NZD and repeat the exercise.