Sharesies is making investing easy for everyone. Hnry automatically pays and files taxes for Freelancers and Contractors, so they never have to think about We don’t provide personalised advice or recommendations. Market data provided by Refinitiv, Drivewealth, and IEX Cloud. This means we don’t share any of your personal information with DriveWealth—they only see the combined information of all Sharesies investors together. In many cases, Resident Withholding Tax (RWT) or PIE tax is automatically deducted from you at a certain point in time, like when the income is paid ��� in the same way PAYE tax is deducted from your salary or wages. Sharesies 若�營�瑥닸��竊�Sharesies Nominee Limited that holds your Portfolio for you and may transact on your behalf. Kia Ora, For reference I am 24, no dependents, no mortgage, non-smoker and have no health problems. You just need to multiply your weekly pay by 52, fortnightly pay by 26 and monthly pay by 12. When you think of your typical investor, a student isn���t the first thing that pops into your mind. While this has worked for some people, the lack of flexibility has been a big barrier for others. Most of the self-employed people we’ve talked to over the past few months said that they’d like to start investing in stocks and funds over the next five years – yet, there are many people out there who can’t achieve this goal because they earn an unsteady income that can vary within months and even weeks. Sharesies has a monthly fee of $1.50 to $3 (the first month is free and it���s also free if your portfolio is less than $50), depending on the size of your portfolio, or you can pay an annual fee of $30. Oliver Mander: Investing in New Zealand’s healthcare sector, Oliver Mander: Investing in New Zealand’s energy sector, US exchanges that we’re providing access to. Absolutely! For example, Sharesies is designed for investing affordable amounts, regularly, over a long period of time. So far, we’ve shared the three US exchanges that we’re providing access to (NYSE, Nasdaq, and CBOE), and how foreign exchange works on Sharesies. It works by requiring your employer to contribute 9.5% of your ordinary income into your Super fund. Any information we provide is general only and current at the time written. You can set up a Kids Account for someone under 18, but it will need to be linked to an adult���s account. Start small and grow as you go! My current salary is ~85k, and my only debt is student loan. Investing involves risk. The going rate for custodial fees is .3% (and nil custodial fees on offshore holdings at asb securities). We all discover some tips, tricks and shortcuts in life that are real time savers, or they just help us understand our place in the world a bit better, but it takes someone to tell us about them in the first place. We were interested to learn that the majority of Kiwi investors are Auckland-based males over the age of 60! When an employee is on a tax rate of ~30% it is hardly fair to tax their perks at 63.93%. Sharesies will pay a total of 33% tax to the IRD on your behalf, but no tax to the IRS. Greater flexibility means greater accessibility and freedom to invest in the ways that work for you. You do not need to do this for the Superlife fund. US shares are available now! Dollar-cost averaging: invest an affordable amount, regularly, regardless of what the price is…and stick with your investments for the long-term! Click the button below for instructions on how to enable JavaScript, then refresh the page. Sharesies is a customer of DriveWealth, not each individual Sharesies investor. Investing involves risk. We've partnered with Drivewealth to provide access to US markets. With investing becoming more accessible than ever, it’s super encouraging to see more New Zealanders jump in and give investing a go! for self-employed people. As a US citizen or Green Card holder, you may have other tax obligations to the IRS. In fact, a significant portion of self-employed people do not currently allocate money towards investments because of the “barriers” that accompany self-employment. The $30 yearly sharesies fee is really equivalent to a custodial fee as charged by the traditional brokers. We like to think so! As a country, we still have a long way to go but we hope that in opening up the conversation around money we’ll be able to share the knowledge and help New Zealanders feel more confident about the financial decisions they make. We don’t provide personalised advice or recommendations. Finally, Sharesies also allows you to invest in a small number of managed funds. For full functionality of this site it is necessary to enable JavaScript in your web browser. When you receive dividends or distributions in Sharesies, the amount you receive has the tax already accounted for. It's quick to sign up. When you exchange money, you’re charged a 0.4% exchange fee—we show this exchange fee upfront rather than hide it in the exchange rate. Investing has traditionally been designed for those able to part with large sums of money on a consistent basis. Learn by doing: you don’t need to know heaps to get started. DIY Investment Services in NZ. You own all of the money and investments you have in Sharesies—we can’t do anything with your money or investments unless you instruct us to. I've been looking into Income Insurance and Life Insurance, and was wondering if the ~$50 a month would be worth it ��� Sharesies $1million Media Release. All rights reserved. I have tried to cut the data in as many different ways as I could think of, to give people some different ways of looking at things. Also note that both these companies use a flat administration fee as part of their charges. For US shares, there are no changes to our existing subscription fee. This portal makes it easier for investors to check and manage their SmartShares investment. Whether it’s starting small, talking about money with their friends and family, or setting up a Kids Account for the young people in their life, we’re excited to see Kiwis take steps to grow their wealth and share their investment experience with others! You can buy, sell, and withdraw your investments whenever you want—and invest from as little as $5! The total tax Sharesies will pay on your behalf for your US shares income is 33%. Stake Hnry news, announcements and product updates, Everything you ever wanted to know about Hnry, Guides, tips and tricks specifically for freelancers and contractors, Helpful content and documentation all about tax and what you need to know, Articles, interviews and opinion all about freelancing, contracting and the gig economy. The Old Days��� In the past, if you join the SmartShares saving plan (a.k.a monthly contribution plan), you will have to register with Link Market Service with your CSN and FIN number to check the value of your holding. As above. Currently, 80% of the investors on Sharesies are under the age of 40 and evenly split between men and women. SmartShares just added a new investor portal for their existing investors. Sharesies offers the lowest foreign exchange fees, but depending on the value of the trade, may be the most expensive.For example, a US$2,000 purchase of shares would cost US$10 with Sharesies, US$3 with Hatch (assuming it ��� For US shares, we’re partnered with a broker called DriveWealth and its custodian Citibank. When it comes to investing in shares, our research suggests that New Zealand is lagging behind other countries. The total tax Sharesies pays on your behalf for your US shares income is 48%. 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