Best option for exposure to global markets?

[GTM 3442]

Thanks for the reply GTM. I am looking at investing in UPRO and TQQQ ETFs through them. Just have a few questions for you.

- How does the tax work? Is the tax on dividends withheld at source like in NZ, or do they pay you out their imputation credit without withholding any RWT? Or what? Where is the best place to find out this sort of thing?

- What sort of statements do they send you?

- How difficult is it signing up as an NZ resident?

Any other info you could tell me about the process would be much appreciated.


Thanks for your help.

Mornin' zb3

Tax is either paid or not paid at source. This will vary according to where the investment vehicle is based. The best way to find out the details is to ask, either by email or by a telephone. You do get two consolidated tax statements each year. As a custodian, they simply pass on the details provided by the investment vehicle, and assume that you know what to do with those details.

It's an online system, so they don't send you any statements, but you can access them online, and print them if you feel the urge. Similarly with contract notes and other documentation.

I imagine that it would be as easy to sign up as a New Zealand resident as any other form of resident. I certainly had no issues or problems other than the fact that I have no residential address.

Note: It is almost certain that my residency and tax situation is different to yours. Thus my experience will be of limited value to you, and you should check it out for yourself