Quote Originally Posted by blackcap View Post
I think you will find you are correct. Sharesies and Hatch are no more no less like Direct Broking and ASB. Just a facilitator of a trade. It is up to the client to report to the IRD. Always has been the case. I think there are many new investors in NZ who have no idea what FIF is or even what trading profits are.
To be fair FIF is a diabolical invention that needs a massive overhaul. This 50k limit is ridiculous as is the big long list of what is, and is not exempt, it one big confusing mess.