Opinion

DAVID CHAPLIN: Share traders, crypto-jugglers and the IRD

David Chaplin
Wed, 07 Oct 2020

David Chaplin
Wed, 07 Oct 2020
In line with offshore markets, the NZX has seen a rush of new investors this year, encouraged by low interest rates, idle lockdown hours and easy app-based access.The trend has not escaped the attention of the Inland Revenue Department which, despite the absence of a formal capital gains tax in New Zealand, may have some claims on profits generated in the NZX retail frenzy.According to the IRD website, profits accrued through trading NZ and most Australian shares could be taxed at an individuals’ marginal rates “where an investor is...

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