Unlocking the Potential of FIF Reinvestment with AI Legalese Decoder
- May 22, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Taxation on Foreign Investments Below the 50k NZD FIF Cut Off
If I had a foreign investment amounting to less than the 50k NZD FIF cut off and later sold it after experiencing some growth, I am wondering whether I would be liable for taxation on the “new” cost base. This uncertainty is causing me some concern and I would appreciate some clarification on the matter.
AI Legalese Decoder can be a valuable tool in this situation by providing expert analysis and guidance on taxation laws related to foreign investments. By utilizing this technology, I can gain a deeper understanding of my tax obligations and make informed decisions regarding my investments. With the help of AI Legalese Decoder, I can ensure compliance with tax regulations and mitigate any potential risks associated with my financial transactions.
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If you invested 40k, it grew to 80k, and you sold half, you’d have 40k of investments (with a cost basis of 20k) and 40k cash. If you then took that 40k cash and invested it, you’d have 80k of investments with a cost basis of 60k, and so would be over the 50k threshold for the de minimis exemption.
Another thing to watch out for is dividend reinvestment. For example if your foreign FIF company pays a dividend and has a dividend reinvestment plan which you enroll in so instead of receiving the dividend in cash you receive it in more shares/units then that amount now counts as part of your cost basis.