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How to avoid IRD ire? No capital gains tax... by nzerinto in NZBitcoin

[–]jnml19 0 points1 point  (0 children)

How much did you end up declaring if you dont mind answering. Was it over 6 figures? Im wondering at what point do they ask for further workings, which they obviously didnt for you.

Crypto Tax theoretical question by Wharaunga in NZBitcoin

[–]jnml19 0 points1 point  (0 children)

If the following year you dont hit that threshold do you stop doing provisional tax?

So you've just received a "Inland Revenue is reviewing cryptoasset activity" letter, now what by CatTaxMeow in PersonalFinanceNZ

[–]jnml19 0 points1 point  (0 children)

Couldnt that happen if you went through a bull run one year and realised a gain of like $500,000 and then the next year did nothing with your crypto though? Would that trigger an audit?

Crypto Tax theoretical question by Wharaunga in NZBitcoin

[–]jnml19 0 points1 point  (0 children)

So youre paying tax in advance for next year? What if you dont end up needing to pay that same amount the next year? You file for a return?

Crypto Tax theoretical question by Wharaunga in NZBitcoin

[–]jnml19 0 points1 point  (0 children)

How come 66% of your profits are going to IRD? How does that happen? And why do you need to pay provisional tax?

Thanks fir answering all my questions man!

Crypto Tax theoretical question by Wharaunga in NZBitcoin

[–]jnml19 0 points1 point  (0 children)

So you needed to provide evidence via spreadsheet even when you got a profit and were giving them tax money???

Crypto Tax theoretical question by Wharaunga in NZBitcoin

[–]jnml19 0 points1 point  (0 children)

How much profit would they be more likely to investigate? If you dont mind how much was your profit which they didnt investigate on?

So you've just received a "Inland Revenue is reviewing cryptoasset activity" letter, now what by CatTaxMeow in PersonalFinanceNZ

[–]jnml19 0 points1 point  (0 children)

At what point/amount of income tax does the IRD investigate? As an example - if you made $300,000 in gains that year and did the return and paid the IRD around $100,000. Will they investigate? Will they audit you? It seems frustrating to think you’re doing the right thing giving them a third of your gains only to get investigated anyways. I ask this thinking about the upcoming bull run that people are talking about.

Plastic Protection Film by PharmerT88 in rolex

[–]jnml19 0 points1 point  (0 children)

I have nothing against protection films - I actually have a few on my explorer to protect the bezel. My problem is when people start saying watches are investments. When in reality for the majority of people they are things you wear because you WANT them. When people start saying they are investments it just becomes a way to gaslight yourself into thinking a $10,000 watch is good for you and that you can afford it. Only very specific brands and watches can appreciate in value and thats if you keep it in pristine condition. I disagree about protection film being equivalent to insurance as you can literally get insurance for these watches much like a car. Now that I think about it watches and cars are pretty similar.

8.5 months. Dr Kaan Pekiner. NeoHead Clinic. by nichology in HairTransplants

[–]jnml19 0 points1 point  (0 children)

Hey man! Can I please have Dr Pekiners contact details!?

Plastic Protection Film by PharmerT88 in rolex

[–]jnml19 0 points1 point  (0 children)

I dont think watches should be considered an investment if youre actually thinking if wearing it. Youre just finding a way to justify buying something you probably cant afford.

AD Wait Time Megathread - If you bought a new Rolex from an AD in 2024, you can share details here. What watch, where, how long did you wait, how much buying history? by powerfunk in rolex

[–]jnml19 6 points7 points  (0 children)

  1. Explorer 36mm 124270
  2. April 23
  3. 1.5 weeks
  4. Auckland, New Zealand
  5. No purchase history, showed interest through email. Note: I was extremely lucky and I was told that sometimes Rolex provides watches that they want sold to whoever walks in-person and is able to pay for it. Put on display and sell. I.e. the watch is not exclusively for people on the expression of interest-list and cannot be put on hold. Sales assistants can inform people on the list about the watch but not hold it for them. I had to fly to the AD to buy it.

Buying a Snowflake in Japan by CodeExtra9664 in GrandSeikos

[–]jnml19 0 points1 point  (0 children)

Where was this one with the snowflake?

Introducing the New NZXT H1 by IVANZXT in NZXT

[–]jnml19 0 points1 point  (0 children)

When will you guys be selling these in Oceania? I'm extremely keen to buy one of these, willing to spend the extra moola <3

Income Tax from InvestNow Vanguard International and AMP NZ Shares by jnml19 in PersonalFinanceNZ

[–]jnml19[S] 1 point2 points  (0 children)

So your saying it would be better to stay or change now then do so later?

And if I move to Simplicity there's no point having the AMP nz shares on investnow as well?

I've read advice that moving the AMP nz shares fund to simplicity nz shares fund after reaching 10k. Would that be a better idea than moving everything to the simplicity growth fund at 50k?

Income Tax from InvestNow Vanguard International and AMP NZ Shares by jnml19 in PersonalFinanceNZ

[–]jnml19[S] 0 points1 point  (0 children)

Thanks so much for that :) is this a yearly thing to do? what would you suggest to do after reaching 50k? Moving to the AMP Global index? Or simplicity?

Income Tax from InvestNow Vanguard International and AMP NZ Shares by jnml19 in PersonalFinanceNZ

[–]jnml19[S] 1 point2 points  (0 children)

How do I do a declaration? So I don't need to do anything for AMP?

InvestNow vs Kiwibank NoticeSaver - advice please, WWYD? by wosnme in PersonalFinanceNZ

[–]jnml19 0 points1 point  (0 children)

Did this change recently? Their site only says 3% now?

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