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Junior Member
Sharesight advise that foreign ETFs do not qualify under FIF.. is this correct?
https://www.sharesight.com/blog/how-...term=Read%20on
"..What is a foreign investment fund (FIF)?As stated by the New Zealand Inland Revenue Department (IRD), a foreign investment fund (FIF) is an offshore investment held by a New Zealand-resident taxpayer who holds:
- less than 10% of the shares in a foreign company
- less than 10% of the units in a foreign unit trust
- between 10% and 40% of the shares in a foreign company which is not a CFC
- an interest in a life insurance policy where a FIF is the insurer and the policy is not offered or entered into in New Zealand
- an interest in a foreign superannuation scheme
It does not include interest earned from term deposits, bonds, debentures or money lent. Additionally:
- ETFs do not qualify, only companies that maintains a franking account
- LICs do qualify, as they are considered as stocks.."
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