Tax implications for selling $200K of shares in New Zealand
A financial expert advises that tax on share sales depends on factors like intent, frequency, and whether the shares were purchased for capital growth or trading. In New Zealand, capital gains from share sales are generally not taxed unless the seller is classified as a trader or regularly buys and sells shares. If shares were acquired with the intent to resell at a profit, the gains may be taxable. Consulting a tax professional is recommended to ensure compliance with Inland Revenue (IRD) rules.
Published date: 1 February 2025
Source: RNZ
Trump’s tariff war could spell trouble for New Zealand, experts warn
New Zealand economists warn that Donald Trump’s proposed tariff increases, if re-elected, could significantly impact the country’s exports. Higher US tariffs on Chinese goods may disrupt global trade flows, indirectly affecting New Zealand’s economy. Sectors like agriculture and dairy, which rely on stable global demand, could face price pressures. Experts urge policymakers to diversify trade partnerships and prepare for potential volatility in international markets.
Published date: 3 February 2025
Source: RNZ
Why pension recipients can’t stay overseas indefinitely
New Zealand’s pension rules limit how long recipients can stay abroad while continuing to receive payments. This restriction is due to the residency-based pension system, designed to benefit those actively living in New Zealand. Extended time overseas may impact entitlement, with exceptions for retirees in specific countries under international agreements. The policy aims to prevent inequitable access while ensuring the pension supports domestic residents.
Published date: 8 February 2025
Source: RNZ
Luxury property sales in New Zealand plummet by over 50%
New Zealand’s luxury property market has seen a sharp decline, with high-end home sales dropping by more than 50% over the past year. Rising interest rates, economic uncertainty, and stricter lending conditions have deterred buyers. Real estate agents report increased time on the market for multimillion-dollar homes, as fewer buyers can afford premium properties. Analysts expect the downturn to continue unless economic conditions stabilize or interest rates ease.
Published date: 10 February 2025
Source: RNZ
Can you receive a pension if convicted of a crime?
A legal expert explains that in New Zealand, a criminal conviction does not automatically disqualify a person from receiving the pension. However, if someone is imprisoned for more than 13 weeks, their pension payments are suspended for the duration of their sentence. Once released, payments can be reinstated, but recipients may need to reapply. The policy aims to ensure that public funds are allocated appropriately while providing support after reintegration into society.
Published date: 15 February 2025
Source: RNZ
Heartland Bank reports $50 million loss due to bad loans
Heartland Bank has announced a $50 million write-down due to an increase in bad loans, particularly in the business and rural lending sectors. The bank cited challenging economic conditions and higher interest rates as key factors behind the surge in defaults. Despite the loss, Heartland reassured investors that its capital position remains strong and that it is adjusting lending policies to manage future risks. Analysts warn that rising loan defaults could signal broader financial pressures across the banking sector.
Published date: 18 February 2025
Source: RNZ