Hi,

I have been trying to understand how the tax system works for shares bought offshore i.e. Apple, Google, Tesla etc.

I have investments >$60k and after reading through some IRD material it seems as if I get taxed at 5% of capital realised / unrealised regardless of past performance.

Scenario (Keeping it simple, no dividends etc.):

Year 1 portfolio worth $60,000

Year 2 portfolio worth $70,000

Year 3 portfolio worth $50,000

Year 4 portfolio worth $60,000

Year 6 portfolio worth $80,000

Do I have to pay 5% every year or only years I make a profit? If the latter then do i pay tax in year 4?

Hope this makes sense,

Thanks for the help