NZX - NZ Exchange

[Balance]

So I got my first dividend cheque and note that I was taxed 33% (109.20 gross minus 36.04 tax) - is the tax rate normal? Any way to reduce?

You are not taxed 33% - that is the default resident withholding tax (RWT) which will comprise imputation credit of 28% and RWT of 5%.

You have to elect RWT rate at 0%, 10.5%, 17.5%, 28%, 30% or 33% - otherwise it is automatically 33%.

If your year end marginal tax rate is less than 33%, you will get some or all of the RWT back.

Hope that helps.

[777]

You can't elect a tax rate for dividends. You simply file a return at year end to get a refund if your tax rate is below 33%.

[Balance]

You can't elect a tax rate for dividends. You simply file a return at year end to get a refund if your tax rate is below 33%.

You do have to file a RWT certificate - which will determine the amount of RWT (if any) a company needs to deduct after taking into account the level of imputation credits attached.

[bullfrog]

Pretty pessimistic posts, but I wonder if the nzx may be a little less susceptible to the dramatic swings experienced on other exchanges?

[peat]

Pretty pessimistic posts, but I wonder if the nzx may be a little less susceptible to the dramatic swings experienced on other exchanges?

well maybe but 'aim low, avoid disappointment' isnt the sort of motto I want hear from my investments

[Balance]

well maybe but 'aim low, avoid disappointment' isnt the sort of motto I want hear from my investments

Agreed - bit like the ABs taking the field and playing not to lose.

[Balance]

https://www.nbr.co.nz/subscribe/213132

If you ever want proof that the NZX is a completely useless organisation, the CBL debacle is the ultimate proof.

It took the NBR to hunt down the liquidator who advised that CBL will NOT be releasing its results - not the NZX.

No announcement from NZX.

NZX is asleep at the wheels (as per normal).

An exchange which does nothing to protect the interests of its investors - where is the vision and strategy?

[bull....]

the terrible thing about the cbl saga if it turns out to be the worst case is how did they suck in all the brokers and exchange and investment bankers to get this thing floated? or have all the original investors floaters got there money and run? I dont know .... but its not a good look for the exchange

[Balance]

the terrible thing about the cbl saga if it turns out to be the worst case is how did they suck in all the brokers and exchange and investment bankers to get this thing floated? or have all the original investors floaters got there money and run? I dont know .... but its not a good look for the exchange

An exchange which abdicates its responsibility to look after the interests of investors (as one of its key interest group) has little scope to grow.

[Balance]

https://www.nzx.com/announcements/315024

Wow!

NZX's notice that CBL will be suspended if it does not furnish their results on time!

Bit like kicking a dog very very very hard when it is already dead.

Let that be a warning to all.