richgamer: i'm thinking of buying some shares myself without a broker. i'm with asb bank and you can trade shares yourself online i think. i only have about $1000 to spend. does anyone know if you have to declare income from shares in your tax return? are there brokers that handle the tax issue for you?
I would suggest that you keep your $1000 in a term deposit.
$1000 is a bit light for a Term Deposit. Anyway ASB (who the original poster banks with) appears to have an online call account called "FastSaver" currently offering 8% PA and no minimum balance. That's a pretty good deal.
jberries: I don't think you do pay capital gains tax on shares (or property)
richgamer: i thought there was a minimum income threshhold that is tax free isn't there? anyone know the minimum amount of income you receive that is tax free? is it $50, $100, $1000?