What sort of more efficient tax vehicles are you looking at moving into?
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Exchanged traded funds or shares really. I don't believe there's capital gains tax in NZ.
There actually is a capital gains tax - any investment acquired with the intent to sell it at a profit is a taxable investment. That applies to widgets, shares and property. IRD doesn't enforce the law, perhaps because it is thought to be hard to prove intent. All it needs is a change in Ministerial guts to backdate application up to 10 years.
Looks like things are picking up today - 14 loans $327,600 and a spike up on the auto-lend graph.
The snow holiday might be over...
I got my first Auto lends in over a month and a half today, Unfortunately It invested 4 notes in a loan that while it matched my auto lend criteria had I been manually investing I would not have invested anything. But at the same time only invested 1 note in a loan that matched my auto lend critea and I would also have happily manually invested in
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After around 15 months I've invested 200K for an investment of 100K... It certainly isn't - invest and forget :ohmy:
I've invested 2.68 x more / had a turnover 2.68 x higher then the maximum I have had invested thats over a period of 3.5 years - So its far from set and forget - especially since I have only had auto invest make an investment twice in the last 3+ months - Its taking everything I can to just reinvest to hold a particular balance invested, I certainly could not increase the amount invested even if I wanted to. But given my lending crowd return is now higher then harmoney there is no real reason to increase the total amount invested with harmoney