Info re this from Sharesies, to those who registered interest in US shares:

FIF tax
If you have over $50,000 NZD invested in overseas investments, you’ll be subject to the Foreign Investment Fund (FIF) tax rules. If you’re in this situation, Sharesies won’t be handling your tax for you and you should seek tax advice.
If you have less than $50,000 NZD invested in overseas investments, you don’t need to worry about this!

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.