Asset sales

[Oscar]

... so you didn't read what I wrote, not sure why I should be surprised. Typical right winger

You wrote this:

They're off calling their circle of mates to find out how much they'll charge each other for monitoring each others portfolio additions so that they'll have more "losses" to write off against tax next year.

If your inference is that this is bad - it exposes your lack of knowledge on the subject.
If your inference is that this is good - it exposes your lack of knowledge on the subject.
Conclusion - you have no idea.

[mashman]

Your inference that this is bad exposes your lack of knowledge.

I'm sure it doesn't happen.

[Oscar]

I'm sure it doesn't happen.

So what was your point?

[mashman]

So what was your point?

Guess..... I mean guess some more

[Oscar]

Guess..... I mean guess some more

My conclusion is that you have no idea what you're talking about (again).

[mashman]

My conclusion is that you have no idea what you're talking about (again).

I expect that from those with a limited imagination and a right wing bent... however that is your prerogative.

[Oscar]

I expect that from those with a limited imagination and a right wing bent... however that is your prerogative.

The fact that I actually know something about Income Tax as it pertains to Share Trading doesn't make me right wing or have a limited imagination, it just makes me better informed than you.

Why don't you just admit that you had no idea what you were talking about?

[mashman]

The fact that I actually know something about Income Tax as it pertains to Share Trading doesn't make me right wing or have a limited imagination, it just makes me better informed than you.

Why don't you just admit that you had no idea what you were talking about?

Cool. I have no doubt that you are better informed than me on a wide variety of subjects. In which case, are portfolio management fees deductible?

[Winston001]

In which case, are portfolio management fees deductible?

Only if you are a share trader and in that case any profits are taxed. Very few share buyers are traders. Its not for the fainthearted. Most people buy shares and put them aside hoping they will grow in value - sort of like a term deposit.

[mashman]

Only if you are a share trader and in that case any profits are taxed. Very few share buyers are traders. Its not for the fainthearted. Most people buy shares and put them aside hoping they will grow in value - sort of like a term deposit.

That seems to be at odds with something Thomas Pippos was quoted as saying: "For mum and dad shareholders who hold only New Zealand or Grey List shares, the following are generally not deductible, says Pippos: brokerage, the purchase price of the shares, and "costs incurred in establishing a portfolio," including getting initial advice. However, the costs of monitoring the portfolio are deductible."

[mashman]

Meanwhile back on topic

High level of ignorance over asset sales - Key... Does that mean Key was taking advantage of people? What a fuckin cunt... just like Jimmy Carr

[puddytat]

Meanwhile back on topic

High level of ignorance over asset sales - Key... Does that mean Key was taking advantage of people? What a fuckin cunt... just like Jimmy Carr

You sure its not what he really thinks about those who oppose it....ignorant serfs

[Oscar]

Meanwhile back on topic

High level of ignorance over asset sales - Key... Does that mean Key was taking advantage of people? What a fuckin cunt... just like Jimmy Carr

What about ignorance over tax issues?

[Oscar]

That seems to be at odds with something Thomas Pippos was quoted as saying: "For mum and dad shareholders who hold only New Zealand or Grey List shares, the following are generally not deductible, says Pippos: brokerage, the purchase price of the shares, and "costs incurred in establishing a portfolio," including getting initial advice. However, the costs of monitoring the portfolio are deductible."

Jeez
That's the whole point - only an idjut deducts expenses, coz it makes their whole portfolio subject to tax.
Your stupid post earlier would have "them" paying more tax, not less.

[gsxr]

Umm off topic on topic I dunno


"This legislation is an innovative way to raise much-needed capital and at the same time gives New Zealanders a chance to invest in their own futures."

Dont WE the current taxpayers and long passsed away taxpayers already OWN these assets ???.
If so on the sale of them the funds should be distributed proportionately.
How does the double dipping work to enable current owners to buy shares in something that they currently OWN.