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Investment Clues
The taxation of overseas investments
Tuesday, 13 April 2010
By Richard Hurley
The tax year is about to end and once again many accountants will struggle with calculations required for their clients’ Foreign Investment Funds (FIF) tax liability. Time spent will most often not be recouped in chargeable fees. There is however an easy solution.
Modern Investment Wrap Platforms provide a comprehensive year end tax report including FIF liabilities, all in a ready to use straight forward format.
An investment Wrap platform is a modern administrative solution to the management of large/or complex/or multiple or diversified investment portfolios.
At Auckland City Brokers Ltd we use the FNZ Investment Wrap Platform. Our typical client has a diversified portfolio valued upwards of $250,000. On average about $750,000.
FNZ is one of two leading Wrap Platform Providers in New Zealand. The other is AEGIS, owned by the ASB Bank. FNZIt has offices in Wellington Edinburgh and Bristol and provides the investment platform to large institutions as well as modern Financial Planning practices such as ours. Bank of New Zealand, Tower Asset Management, AMP Financial Services, ANZ National Bank, ING, First New Zealand Capital are all users of the platform.
FNZ provides comprehensive client tax reports for accountants. Contact me for an example.
