Forum Archive Index - January 2000

["Suren Kumar" <surenkumar@clear.net.nz>]

David,
Just poking my nose in between on Cap Gains Tax(CGT). Your situation will be
taken in the context of the portfolio of shares you hold and shares you
sold. For the shares you hold they will be called unrealised Captial Gains.
There is no tax to be paid on these if you do not consider yourself an
active trader. However, if you are an active trader then those unrealised
Capital Gains become taxable. For BRY shares the Capiatl Gains I suspect
will be Realised Capital Gains. These will be taxable as any other income.
However if you have had other losses during the course of the tax year then
you may not have to pay the tax as you will be in a tax loss situation.

Hope this is of help to you.

Cheers
Suren
-----Original Message-----
From: David Lau <Akunamatata@xtra.co.nz>
To: sharechat@sharechat.co.nz <sharechat@sharechat.co.nz>
Date: Saturday, 8 January 2000 20:55
Subject: Re: [sharechat] BRY DIV


Hi Richard,

when you said Bry is no longer a NZ company so I have to pay capital
gain tax. Is that mean if I have capital gain on any other NZ
company less than $20000, I don't have to pay any capital gain tax?



> From:          "Richard Hooper" <hoop@ihug.co.nz>
> To:            <sharechat@sharechat.co.nz>
> Subject:       Re: [sharechat] BRY DIV
> Date:          Fri, 7 Jan 2000 18:22:05 +1300
> Reply-to:      sharechat@sharechat.co.nz

>
> ----- Original Message -----
> From: David Lau <Akunamatata@xtra.co.nz>
> To: <sharechat@sharechat.co.nz>
> Sent: Friday, January 07, 2000 12:53 PM
> Subject: [sharechat] BRY DIV
>
>
> > BRY decided to give out last dividen of 3cps with no credit. Is that
> > mean it is taxable?
> >
> > Yes, as BRY is no longer NZ company .Another negative is that if you
have
> over $20000 worth of BRY shares you will also have to pay capital gains
tax
> on any increase in the stock price from the price on the last day BRY was
in
> NZ ,which I think was the 28th Dec 1999.
> >
>
>
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