Quote Originally Posted by nztx View Post
I see today that Sharesies appear to be working towards adding US Shares..
I could never understand the workings of Sharesies on how they manage their US ETFs on the FIF taxation issue. How are they addressing the 5% FDR on an annual basis and how would that apply to clients that may frequently buy and sell US based shares?

Look at the case of buying NZ based managed funds that simply buy the US Vanguard ETF. When you go through a NZ broker, you have their set fees and commissions but the worse is the annual mgt fees by the NZ fund managers for merely just buying the Vanguard ETF. In comparison, I a person that has a US brokerage account, buys the same US Vanguard ETF and pays Vanguard's ultra low avg mgt of 0.08% per year. Are NZ based brokers and managed funds charging a huge fee for the administration to track FIF / FDR for all their clients?