11/06/2026
This article about the new FIF regime, which increases the threshold for requirement to pay tax on the purchase of overseas shares from $50,000 to $100,000 for individuals and from $100,000 to $200,000 for couples, demonstrates two things:
- the requirement to pay tax on these investments does not depend on selling the shares. It is, in effect, a form of wealth tax. It is good to see that, at least in one small area our tax system, recognises that it is OK to tax unrealised gains on wealth.
- the Minister thinks that the relatively small group (33,710) who can afford to invest in this way are not wealthy