Quote Originally Posted by SBQ View Post
The only distinction of a portfolio trading account is to tax the gains at straight income rates. We know this is not the case but we also don't know about FIF. Under FIF the account does not have to be a speculative trading account on foreign shares. It's a straight out tax on paper gains regardless if the account has had zero or repeated trading activity.

Every share in the portfolio needs to be looked at if they're 100% FIF exempted. Some companies go in and out of FIF eligibility in certain years ; just like NZ shares that have an imputed dividend tax credit changes year after year to the shareholders.

If all ticks clear, then there's no sense to see a tax specialist. She needs to work out estate planning like I have with my father. I find it odd how she would choose to go into NZ PIE funds with the sale of these shares because if it's a significant sum of $, there are many better, more tax friendly, places around the world to move to. Even Australia would be a better bet for her to reside in because the PIE funds are taxed under FIF approach if they invest abroad. To invest solely in NZ equities is a huge risk when if she lived in Australia, she would be open to investments globally with no tax discrimination and only a capital gain tax (which only half of the gain is income taxable) and up to her when she chooses to elect the sale for the capital gain.
She has no FIF holdings as stated a few posts above.