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Thread ID: 142053	2016-04-15 04:37:00	Tax question	DeSade (984)	PC World Chat

Post ID	Timestamp	Content	User
1419184	2016-04-15 04:37:00	Anyone here an accountant? I received 1000 RSU's which vested when the company was sold and paid out by the acquiring entity through the sold company. The total worth of this was $7100 What tax regime does this fall under? What is the tax rate of any payment? When would the tax be due to be paid? I have been told that the answers to the above are this but I want 2nd, 3rd, 4th etc opinions on this. Provisional Tax 33% Due in the 2017 tax year and payable in the 2018 tax year BUT As this is a one-off and I am not a regular trader it falls below the threshold for Provisional tax so I don't have to pay anything. I need to know.....	DeSade (984)
1419185	2016-04-15 06:23:00	www.bakermckenzie.com and hit on New Zealand in blue on the right hand side, there are 38 pages on it. Suppose you have asked Dr Google !. Was an accountant 24 years ago and company/personal taxation was a breeze. Most of our portfolio has the taxation worked through for us, but yesterday I had the IRD ask me for the 2015 years workings and from that they will be passing on a $160.00 refund. Miss the old IR3 forms, but think Michael CULLEN made a great job of updating NZ taxation. You would have a bit of Capital Gain in there no doubt, lucky beggar. Lurking.	Lurking (218)
1419186	2016-04-26 08:55:00	Maybe post the question on sharetrader.co.nz? Dunno about RSU but normal shares for the average household investor they only report dividends and it is declared but much of that tax has been taken off already before it got to you. Yes dividends are taxed at a flat rate of 33%. Provisional Tax this is only activated if you are GST registered like a office contractor, sole trader etc. My understanding is that for the avg NZder who have shares, and does a PAYE day job they don't have provisional tax. Provisional tax is payable on the 2nd year you are GST registered. So with that it would include your self employed income and any other like dividends not sure on capital re: RSU though. Re: the timing it would be the same as your employed income. If it is your 1st year, you normally pay no tax. If it is your 2nd year you pay the previous tax for your job and your investments and you pay provisional (your job and investments). With my dividends and my office contracting roles when I did it - they are collated together. In terms of tax it is under the IR3. I would ask you expenses, self employed income and any dividends and RWT etc.	Nomad (952)
1419187	2016-04-27 01:54:00	7145 This is the Tax Summary estimation on the IRD's site.	Nomad (952)
1419188	2016-04-27 05:09:00	Given how the IRD's site is set out . I would say that the RSU will be taxed or depending how the site addresses it . RSU either - free from the employer or under market cost . OTOH if the household individual went away and bought the odd Auckland Airport or Ryman Healthcare share on the open market at the market price the capital won't be taxed usually . The dividends are taxed though, they are generally taxed before you get it and the IRD's Tax Summary / IR3 end of year will assess that either are you due a refund or a charge . It would ask how much dividends did you get, how much was the RWT and how much was the imputation credits . It is one line / question below where it ask you how much investment / savings account did you earn and how much tax did you pay . If you are on provisional it leads me to believe you are already GST registered for your other employment . General pple with shares just do a IR3 at the end of the year without provisional . Under the threshold? Hmmm . . not sure on that b/c if you can choose to be GST registered if you earn $60k a year . The requirement to be GST registered is around $80k or something gross . Not sure exactly but those office contractors who earnt under that chose not to register and thus may not have the ability to claim expenses for GST . But it is less paper work . With the standard income IR3 you can claim expenses that way but not the GST part . The IR3 you can include normal PAYE income you did during the year, any self employed income and any interest / dividends . The online calculators won't do that for you - they only do either PAYE or self but not both . My hutch would be if you are GST registered, provisional is assessed on the total income from the previous year to form that estimate however you can adjust that if the following year may be sig different to the last etc .	Nomad (952)
1419189	2016-04-27 07:33:00	What is an RSU? What was the transaction that caused you to acquire them? Don't use Nomad as your accountant.	wotz (335)
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