Forum Archive Index - June 2000

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Hi All, 

I remember reading in the newspaper and in a broker report that BIL 
shareholders who hold under $20,000 worth of shares will not be 
subject to the Inland Revenue Department's foreign investment fund 
tax regieme. 

This is not the full story.    You must add up the total of all your 
foreign investments (except for those from the exempt countries USA, 
UK, Australaia, Canada, Japan, West Germany and Norway) and the 
aggregate total must be less than $NZ20,000 to gain an FIF fund 
exemption.

But don't take the word of any old dog on newsnet on this.   Check  
out the Income Tax Act 1994 section CG15 section 2d for yourself, 
here (note link should all be on one line).

http://rangi.knowledge-basket.co.nz/gpacts/public/text/1994/se/
164seCG15.html

SNOOPY


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