tax

[tosspot]

wait so If I buy and sell a stock on the ASX say through asb securities. I will have to pay income tax rate of gain to Australia government. then whats left of my gain pay income tax to New zealand government. thats bull

[Jay]

No. Not what vaygor1 said at all.
Vaygor was talking about dividends, taxed in Australia then taxed in NZ as well - however only on the net amount your receive convertd to NZ$'s

[tosspot]

No. Not what vaygor1 said at all.
Vaygor was talking about dividends, taxed in Australia then taxed in NZ as well - however only on the net amount your receive convertd to NZ$'s

Yea I realise that but im talking about capital gains. how exactly does that work

[POSSUM THE CAT]

Tosspot depends where you are tax resident & the rules there. And if your using a NZ broker or an Australian one. As this could alter the Tax locality. Get professional advice on your own circumstances for all tax.

[tosspot]

Im a New zealand citizen using asb securities and am looking at some asx shares short term. just wondering the general tax rule. do you get double taxed on capital gain

[Jay]

Im a New zealand citizen using asb securities and am looking at some asx shares short term. just wondering the general tax rule. do you get double taxed on capital gain

No you would not if in the eyes of the IRD you are a NZ tax resident, do not have to complete an Aussie tax return as you do not live/a resident there.


DYOR

[POSSUM THE CAT]

Tosspot get professional advice it depends on a lot of things Including how long you hold which shares your intent & a lot of other things.

[tosspot]

Tosspot get professional advice it depends on a lot of things Including how long you hold which shares your intent & a lot of other things.

Im at trader so all is short term for profit.

[POSSUM THE CAT]

Tosspot even more you need professional advice as capital gains are regarded as income & you may to end up on the other tax scheme which I think was titled FIF

[noodles]

Tosspot even more you need professional advice as capital gains are regarded as income & you may to end up on the other tax scheme which I think was titled FIF

I read that fif does not apply if you are a trader...
http://www.ird.govt.nz/toii/fif/how-...tax-threshold/