IRD guide for the single trader: how to not pay tax on purpose

Newcomers to share trading and seasoned players alike can glean handy tips from the IRD's recent draft statement on tax liability. (Image: Getty)

David Chaplin

Wed, 21 Aug 2024

“The use of online investment platforms to invest in shares is becoming increasingly common,” the Inland Revenue Department notes in a recent draft statement of the obvious.According to the Inland Revenue Department (IRD), many in the platform-based community are less clear that their stock-trading profits might be taxable.“Most people understand that share traders or dealers who buy shares for resale need to pay tax, but it is not so well understood that people who make only occasional sales also have to pay tax if those shar...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets

Sky TV financial results: after-tax profit of $49.2m

Sky TV has delivered a “solid” net after-tax profit of $49.2 million, a drop of 3.7% on its previous financial year in what it describes as difficult and challenging market conditions, which has seen its customer base fall to its lowest in five years.The result comes as the compa...

Staff reporters 10:00am

Infrastructure