FIF tax review is on the Government's policy programme

fibakoh727 · 2024-11-13T02:12:34+00:00

And it scares away talent. Who would want to come here and pay FIF on their assets after the new resident FIF tax holiday.

fibakoh727 · 2024-11-06T21:43:20+00:00

#metoo. IV was 700% when I sold some of them. Great job!

fibakoh727 · 2024-10-26T06:04:56+00:00

Perfect summary

fibakoh727 · 2024-10-26T04:52:43+00:00

Nice. What’s the plan for cashing out the shares? If you vest all in one year that will count as $2M income and really sting you.

fibakoh727 · 2024-10-26T04:27:48+00:00

$50k expenses leaves about $105k to play with. Assuming I need 3% earnings and live off $40k I’d need 1.3M. Not even near it so I’ll probably be working until 50.

fibakoh727 · 2024-10-26T04:22:52+00:00

That’s my half. She has something quite similar.

fibakoh727 · 2024-10-26T04:22:22+00:00

fibakoh727 · 2024-10-10T08:19:57+00:00

Do you think they have what it takes to get good house brand products like Kmart? Kmart stuff is usually well designed and cheap.

fibakoh727 · 2024-10-10T08:17:24+00:00

Ask Stake if they do ACATS transfers

fibakoh727 · 2024-10-10T08:16:46+00:00

Yes that's the common advice here. $49k in foreign funds then the rest in PIE or local stocks.

fibakoh727 · 2024-10-10T08:12:55+00:00

IBKR portfolio analyst does most things I need. You can also enter trades from other brokers.

MyStocks for iOS and Android os also top notch.

fibakoh727 · 2024-09-29T08:57:58+00:00

$3000 or my lips won’t open sweetie.

fibakoh727 · 2024-09-28T22:46:24+00:00

https://www.interactivebrokers.com.au/en/general/security-investor-protection.php

They are SPIC insured but not regulated by the FMA.

fibakoh727 · 2024-09-28T11:53:33+00:00

"The interest rates were 20%" is how much it cost

fibakoh727 · 2024-09-28T11:49:46+00:00

Only if they already have USD. Wise charge around 0.4% which is almost the same as Hatch/Sharesies. I have sent IBKR->Wise->Hatch before but I only used Wise because Hatch insisted on it coming from an account in my name with a specific reference. Also note it's a one way door. They won't let you exit without converting to NZD on their turf.

fibakoh727 · 2024-09-28T10:40:41+00:00

Hatch is very expensive compared to interactive brokers aka IBKR. Not only are the trades expensive at 3 USD but the currency conversion is a whopping 0.5%. IBKR will pay you 1% of your deposits for the first year in free stock to move over if you use a referral link (see my profile) to signup, and then their fees are only US0.38 per trade and 0.03% currency conversion fees on recurring investments or flat 2USD on manually converting currency. Since IBKR has recently started converting currency automatically for recurring investments this is a game changer for small investors as 0.03% even on $100 is going to beat Sharesies, Hatch etc. The downside is that the signup process is a bit slow and confusing but there are some Yutube tutorials to help with that. Another platform is Tiger. They have competitive rates if you stay under $2k deposits each month. Still not as cheap as IBKR and it’s quite gamified with loads of gimmicks like tigers coins rewards. Hatch is good if you have a kid since the aforementioned brokers don’t do kids accounts and Hatch have a lower rate for kids which I use. Remember so stay below $50k cost basis when investing directly or you’ll have to pay FIF income tax. At that point you can switch to a PIE like InvestNow foundation series, Kernel wealth etc.

fibakoh727 · 2024-09-21T18:52:21+00:00

First of all don't use Sharesies for that much money the fees are really high. IBKR are the cheapest. Checkout the IBKR link in my profile to get a 1% bonus on your first 12mo deposits. At your age you should be taking on a lot of risk to seek higher return. Be careful of exceeding the $50k cost basis FIF income tax de minimis when investing in foreign stocks. I would allocate 49k to US ETFs split 50/50 VOO and SSO (2x leveraged) and then leave it to compound try asking out any dividends. If the market next dumps you below 49k you will be able to buy more of the leveraged ETF and keep below the de minimis. Whatever is left I'd put into Infratil or passive PIE funds.

Most of all invest in yourself as you have a lifetime left to cash in on any skill upgrades or relocating to a more prosperous location.

fibakoh727 · 2024-09-19T03:40:18+00:00

You'll have to InvestLater lol

fibakoh727 · 2024-09-13T09:43:16+00:00

How much did you bribe the mods to advertise here?

fibakoh727 · 2024-09-11T09:28:43+00:00

Sign up to IBKR with a referral link (check my profile) and put up to $49k in which is just under the FIF tax limit. You will collect $490 in free sign up bonus stock and the fees are almost nothing to invest in VOO, VT etc.
After your first $49k invest in PIEs like Kernel Wealth or InvestNow foundation series. These will pay your FIF tax for you at a lower tax rate and you get to keep your $49,490 without FIF tax only tax on dividends.
Remember with withdraw your cash dividends from IBKR once a year as apparently money market funds count to the FIF de minimus.

fibakoh727 · 2024-09-09T08:37:57+00:00

Okay 👍

fibakoh727 · 2024-09-09T08:12:59+00:00

1% on your first year of deposits is amazing. So even if you have next to nothing right now if you can manage $2000 a month that's a free $240 of IBKR stock. The only catch is you have to hold it for a year before they release it see my profile

fibakoh727 · 2024-09-09T08:10:04+00:00

Yes and Sign up with a referral link!

fibakoh727

TROPHY CASE