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Thread: Sharsies vs ASB

  1. #21
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    Quote Originally Posted by justakiwi View Post
    Sorry, yes ... my mistake re the ETF transaction fee - I meant companies.
    NO need to apologise. I just wanted to accentuate how good Sharesies is. When I used to buy FNZ and other Smartshares through Direct Broking it would cost me the $30 min plus brokerage. Now its free. There is no peer in NZ at present.

  2. #22
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    If you want to do any significant amount of trading, forget Sharesies, totally not up to the job.

  3. #23
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    Quote Originally Posted by couta1 View Post
    If you want to do any significant amount of trading, forget Sharesies, totally not up to the job.
    That I will agree with. Their order execution is a lot to be desired. But for a buy/hold proponent and building a portfolio it is great. They also give you a tax summary at year end with all I/C's, RWT paid, Gross Div amounts etc. Something Computershare and Link charge you for.

  4. #24
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    Quote Originally Posted by blackcap View Post
    That I will agree with. Their order execution is a lot to be desired. But for a buy/hold proponent and building a portfolio it is great. They also give you a tax summary at year end with all I/C's, RWT paid, Gross Div amounts etc. Something Computershare and Link charge you for.
    Whilst for a combined single document summary it costs, it is still free and easy to do for each individual stock to get the tax details you need (dividends/rwt etc) at the registry.

  5. #25
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    Quote Originally Posted by Norwest View Post
    Whilst for a combined single document summary it costs, it is still free and easy to do for each individual stock to get the tax details you need (dividends/rwt etc) at the registry.
    Yes it is easy enough, but if you have 35 share divided between computershare and link, with some issuing quarterly dividends it can take quite a bit of time to collate.

  6. #26
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    Quote Originally Posted by ratkin View Post
    What is the brokerage for the Nasdaq?

    ASB you can buy US shares but have to do so over the phone and the brokerage is much higher, the other issue is have to fill in tax forms etc for the US. Am I right in thinking that would not be needed with Sharsies

    Sharesies is more direct so you have to fill out the W8BEN declaration form every 2+ years. There is no tax obligation other than tax withholding that the US takes on interest / dividend income. The full NZ brokerage firms already hand the tax with-holding on the client's behalf and would prepare separate tax slips.

    Both Hatch and Sharesie from what I recall do not do full tax filing for the client. Just the bare minimum W8BEN. It's entirely up to the account holder to monitor their portfolio content if FIF applies or not. (when it goes over $50K NZD in value, etc.)

  7. #27
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    Quote Originally Posted by blackcap View Post
    Yes it is easy enough, but if you have 35 share divided between computershare and link, with some issuing quarterly dividends it can take quite a bit of time to collate.
    If you sign into your IRD account the taxable ones all appear there.

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