Forum Archive Index - January 2000

["hugh webber" <hugh.webber@clear.net.nz>]

hi Barney,
I think Richard McGrath has given probably the best available website
answer apart from ringing up your broker and asking him. The NZSE website
says the unlisted market is only available to brokers and all info has to
come from them. I note that the one Richard quoted is still in some
disarray from the hols and hasty typing and I wouldn't rely on it 100% -
also its missing Asian Mineral Securities (and probably others).

People keep asking about tax and its good to get the answer we did in this
forum re Australian shares.
I think probably the easiest way to see what's involved is to read the
chapter on tax in Newman & Briggs book "Making Money on the New Zealand
Sharemarket' which covers tax on both dividends and buying and selling
shares. Your library should have it by now or be able to get it if you
don't want to outlay $29.95 and Whitcoulls or whereever. I read it over
Xmas and passed it on to a friend, a brilliant book for beginners altho I'd
say it was unjustifiably enthusiastic about charting and a bit too reserved
about value investing.

The basic tax answer is if your intention was to buy the shares for income
then gains on disposal are not taxable. The facts would need to back up
this interpretation i.e. were dividends actually received; does the share
pay dividends; how long was the share held....that sort of stuff.

cheers,
Hugh

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