I will keep holding .Dont want to risk having to pay tax on profits, trading, to the IRD.
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I will keep holding .Dont want to risk having to pay tax on profits, trading, to the IRD.
Are there any resources anyone could point me in the direction of in regard to trading/investing and tax? I had a quick search earlier in the year when I first got started but haven't looked again since holding A2 for the last new months. I didn't find anything clear cut on the subject...
You wont find anything clear cut because there isn't any definitive guidelines like most other countries have but I'll make it simple for you, only two things to ask yourself. 1.What was your intention when you purchased any given block of shares and. 2. How often do you buy and sell shares. The answer to those two questions will give you good guidance.
Also how many buys and sells you do in a year. Buying for the dividends;) is good too. It is a very gray area. I have a trading broker (for aus stocks) ,ASB and an Investment broker with two diff banks to be completely transparent.
Worth a browse through the thread below
"Some Questions For Traders " and others in the bowels of S/T.
Not according to my accountant.i never want to attract the IRD for any reason. If they deem one a trader and not an investor, thats it. To each their own , whatever works for you.