Pure speculation Balance, but I get the point that you all seem to think NZX sucks.
(However, whether Jayne and/or the ATM Board shares your views remains to be seen.... )
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If Cullen gets his nutty way and a CGT comes in at ones marginal tax rate(Out of step with every other country where it is at a lesser rate) the NZX is screwed, watch people leave the market and head for property as well as putting off any potential newcomers, not to mention an exodus of overseas funds from our market.Lol
He is referring to FDR then. If your under 50,000 then you pay tax on dividends or distributions received. If over 50,000 then you pay tax on 5% of your opening balance at the beginning of each tax year. This is the maximum. If however your investments do not increase in value by 5%, including dividends and distributions then you only pay tax on what it does increase by.
There are a few other rules but that is the gist of it. Nothing to be frightened of.
Definitely not a CGT.
This is not a tax thread ... but this statement is plain wrong. Most ASX shares are by IRD treated like NZX shares - you only pay for capital gains if you are trading, not if you are investing ... and the $50k you are talking about would be the de-minimus limit for holding NOT exempted foreign funds (including some not exempted shares on the ASX) - no matter whether you hold them or sell them.
If you want to know more - there is plenty of stuff on the IRD webpages ... and the rules are tweaked regularly, i.e. if you hold or used to hold (not sell) more than $50k in foreign funds, you better check every year:
https://www.ird.govt.nz/toii/fif/fif-index.html
Ah yes, and if it is A2 shares you are worried about, no matter whether they are NZX or ASX traded - they are FIF exempt. No 50k limit whatsoever. Obviously - you need to declare your dividends (if & when they pay some) and you need to pay taxes if you are trading.