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Member
Paying Tax
Very basic question.
Do I need to declare anything/pay any tax on the small amount of shares that I hold?
I have a small portfolio of about 25k in 3 stocks. I am planning on holding for a while and not trading frequently.
This should mean I do not need to worry about tax, correct?
Had a quick read online and from what I gather to be taxed from shares you need to be trading frequently etc.
Thanks
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Originally Posted by milt1968
Very basic question.
Do I need to declare anything/pay any tax on the small amount of shares that I hold?
I have a small portfolio of about 25k in 3 stocks. I am planning on holding for a while and not trading frequently.
This should mean I do not need to worry about tax, correct?
Had a quick read online and from what I gather to be taxed from shares you need to be trading frequently etc.
Thanks
No is the answer as you have not purchased with the primary intent of selling them for a profit
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Member
Thank you for the help couta1, much appreciated.
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There may be tax to pay on dividends if they were paid to you without imputation credits or withholding tax.
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Member
I dont have any dividend payments incoming. At what approximate point do I move to being classed as a trader, and my tax responsibilities change?
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Originally Posted by milt1968
I dont have any dividend payments incoming. At what approximate point do I move to being classed as a trader, and my tax responsibilities change?
This had been discussed on here a number of times milt. Do a search on this area of the forum or try here as a starter http://www.sharetrader.co.nz/showthr...660-Tax-advice
Some might say, when the IRD decides you are :-)
Last edited by Jay; 02-07-2014 at 08:16 AM.
Reason: splleing
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Member
Thanks for the assistance Jay.
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