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Why you need to check your PIR (Prescribed Investor Rate)

Having an incorrect PIR can lead you to either overpaying, or underpaying tax. 120,000 Kiwi’s received a letter from the IRD recently flagging that the wrong tax rate had been applied to their KiwiSaver account. This means many underpaid tax, and received bills accordingly. Unfortunately, it also meant that some were overpaying tax. These KiwiSaver investors will not receive a refund for overpaid tax. This demonstrates the importance of having the correct tax rate recorded on any investment, but particularly, PIE...
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International Fixed Interest Opportunity

I-Shares 1-3 year Treasury Bonds. SHY.US (SHY invests in AAA rated US Treasury bond securities). Interest rates in New Zealand are now at record lows, with signals from the Reserve Bank or New Zealand (RBNZ) that they could go even lower. Whilst the RBNZ are loosening monetary policy the Federal Reserve in America has begun tightening theirs by increasing interest rates. As a result, interest rates in the US are higher than they are here in New Zealand. This provides an...
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New Zealand Fixed Interest Opportunity - NZ Bond Fund

The NZ Bond Fund provides an attractive investment grade alternative to owning direct bonds or term deposits. The Smartshares NZ Bond ETF invests in New Zealand fixed interest assets, with the objective of outperforming the S&P/NZX A-Grade Corporate Bond Index over rolling 3-year periods. The investment manager for the fund is Nikko Asset Management New Zealand Limited. The NZ Bond Fund was created on the 12th of November 2015 to provide an alternative for retail investors looking to invest in investment...
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Income Stock Opportunity - Five Shares for Income Stock Investors

Interest rates in New Zealand continue to fall (we are currently at historic lows and set to stay here for the foreseeable future) and with this fall, the income generated by fixed interest assets such as term deposits and bonds has also fallen. Many investors rely on their portfolio to generate a certain level of income, and for this reason, we are seeing more and more clients come to us looking for ways to increase income. One of the best ways...
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The Nine Most Important Things About Long-term Investing

1) THERE IS ALWAYS A CYCLE Investment markets constantly go through cyclical phases. Some are short term. Some are longer, such as the secular swings seen over 10 to 20 year periods in shares. Some get stuck in certain phases for long periods. Debate is endless about what drives cycles, but they continue. All eventually contain the seeds of their own reversal. 2) THE CROWD GETS IT WRONG AT EXTREMES Cycles in markets get magnified by bouts of investor irrationality that...
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Earnings Season Wrap 2019

The February/March 2019 reporting season was preceded by a relatively brutal confession period, where several meaningful downgrades led to a widespread readjustment in consensus estimates. Consequently, the lower expectations were generally met, although as usual there were still surprises, both positive and negative. Markets rallied in relief not because results were strong but because they weren’t worse than recently trimmed expectations. In fact, excluding resources, industrials struggled to achieve mid-single digit growth. After months of getting beaten up by the...
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With interest rates so low, are your savings going backwards?

Written by Mark Hampton With interest rates so low, are your savings going backwards? With interest rates at record lows and set to stay that way for the foreseeable future (RBNZ Governor Adrian Orr has recently said he expects them to hold steady until at least 2021), many New Zealanders may not be getting the returns required to fund their retirement. At the time of writing one of the big four banks is offering customers 2.10% pa on funds held...

International Peripheral Stock - Salesforce

OVERVIEW Salesforce.com, Inc. is a software-as-a-service vendor that primarily develops customer relationship management, or CRM, products. The firm has a variety of cloud-based tools targeting horizontal markets such as Sales Cloud, to monitor sales leads, Service Cloud, for customer support, Marketing Cloud, to launch digital marketing campaigns, Commerce Cloud, a multitenant e-commerce tool, Quip, its collaboration tools, and the Salesforce Platform, which allows enterprises tobuild applications. Beyond this, Salesforce has various initiatives such as Trailhead, Einstein AI, Lightning, Internet of Things,...
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Economic Update 2019

Investment markets equity prices have had a good start to the year, though the price gains have yet to recover all the ground lost in the global sell-off late last year. The more defensive, income-oriented sectors have done especially well as investors have worried less about the valuation threat from potential bond yield rises, and have viewed less cyclical equities as a useful hedge against global growth shocks. Looking ahead, the central scenario is ongoing global growth at a modestly...

Capital Gains Tax - The Tax Working Group

A SUMMARY OF SOME RECENT TAX REFORMS IN NZ There is currently no broad based capital gains tax (CGT) in New Zealand, although certain “gains” are deemed to be income in certain circumstances. Income tax for example does apply to property transactions in certain circumstances, particularly in the case of speculation. New Zealand’s last major program of tax reform occurred in the 1980s. This included the following changes: The top marginal rate of income tax was reduced from 66% to 33%...
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