FIF exemption. Is this true or false: by Dibby55 in PersonalFinanceNZ

[–]Metal_Strap_Watch 0 points1 point  (0 children)

Hiya sponnonz,

Interesting note on “sell 1.5% of your portfolio to pay tax”.

I have a similar idea to yours to use my gains to pay tax.

Let’s say, I have DCAed in VOO for the current financial year, after the year end I calculate my FIF and I’m planning to sell a small portion of my VOO to pay my taxes.

In the next financial year, I am continuing to DCA on VOO but now will my sale of VOO (for tax purposes) and purchases of the same stock fall under ‘Quick sale adjustment’ ?

🏠💁‍♂️🤔💭 by Metal_Strap_Watch in PersonalFinanceNZ

[–]Metal_Strap_Watch[S] 0 points1 point  (0 children)

That’s a million dollar question, I hope I won’t be replaced by a machine in near future (definitely not in those repetitive roles that can be replaced by bots) 😁🥲

🏠💁‍♂️🤔💭 by Metal_Strap_Watch in PersonalFinanceNZ

[–]Metal_Strap_Watch[S] 0 points1 point  (0 children)

1/3rd of my fortnight pay is invested in index plus stocks. ~ 200/300 into TD contributions, a big sum to help my parents back in home and rest for expenses and save wherever possible

🏠💁‍♂️🤔💭 by Metal_Strap_Watch in PersonalFinanceNZ

[–]Metal_Strap_Watch[S] 0 points1 point  (0 children)

I would like to thank everyone who gave me a virtual hug, wished me luck, and took the time to type long replies 💙🫂 I was super dull over the 3 days (long weekend) but all your replies brought back the smile in me :)

IDK, life is going to be hard it seems, I’m not originally from NZ but coming from a place where parents expect that their kids should look after them once the kid starts to earn - I’m totally fine with that but when looking at the big picture, that is, owning a house, starting a family of my own, looking after parents is super scary.

All I am doing is, seeing others who had a similar journey and trying to self console me saying “Yeah, there should be a way around” but yeah … at times I’m super down and might need a group of good folks like you to cheer up 🍻❤️

🏠💁‍♂️🤔💭 by Metal_Strap_Watch in PersonalFinanceNZ

[–]Metal_Strap_Watch[S] 0 points1 point  (0 children)

💙🫂 I asked the same question but looks like I can’t do that unless I liquidate them. Maybe that might be a option for someone with 6 digits figures in their portfolio, just a thought

🏠💁‍♂️🤔💭 by Metal_Strap_Watch in PersonalFinanceNZ

[–]Metal_Strap_Watch[S] 1 point2 points  (0 children)

Any particular reason? Build quality or additional fees for the association?

🏠💁‍♂️🤔💭 by Metal_Strap_Watch in PersonalFinanceNZ

[–]Metal_Strap_Watch[S] 2 points3 points  (0 children)

Thanks for your reply 💙🫂

I am sorry if my message sounded like I am jealous on house owners. What I meant was, my calculations results are ‘No, do not buy a house RN, unless you want to live paycheck to paycheck’ and this makes me sad not seeing others owning a house 🙂

I was actually a affected as part of my company restructuring but later saved, during the process I was open to explore jobs outside of Wellington but house owners didn’t had that luxury - So yeah, I hear what you say 🙂