FAQs Archive - Page 8 of 14

How are Smart ETFs buy and sell orders processed?

Smart are listed securities on the NZX. Orders are placed through our broker, Craigs Investment Partners.

All Smart orders are aggregated by the Custodian at 12pm each business day and sent to our broker. Orders are executed on the market later that afternoon. Any orders loaded after this time will be processed the following business day.

Buy and sell requests are not matched – each is placed independently.

Minimum investment amount is $50, when part of a Regular Investment Plan, or $250 for one-off investments.

Buy […]

By Mike Heath|2026-08-13T15:49:51+12:00August 15th, 2017|Investment Portfolio Management Questions, Product/Choosing Products Questions|Comments Off

What do I need to do if my account, or anyone associated with it, is also a tax resident of a country other than NZ?

In September 2013, in response to growing concerns about offshore tax evasion, G20 leaders announced an initiative to implement a new global Standard for Automatic Exchange of Financial Account Information in Tax Matters (in short, Automatic Exchange of Information, or AEOI).

AEOI impose these obligations on jurisdictions and financial institutions (for AEOI purposes, known as reporting financial institutions):

Collection – Reporting financial institutions must conduct due diligence of their account holders (including the controlling persons of certain account holders) to identify reportable accounts, and collect defined information for those reportable […]

By Mike Heath|2026-08-13T15:44:40+12:00June 29th, 2017|Account Questions, Tax Questions|Comments Off

How are my funds protected?

InvestNow client funds are held in an independent custodial account which is run and operated by Adminis, who have been appointed to provide custody services to InvestNow. This ensures that there is complete separation of client assets from InvestNow as a business. The custodial account is also structured to ensure that all assets, including the bank accounts, are ring-fenced from the custodian’s business. The custodian is audited annually and client accounts are subject to daily reconciliation.

InvestNow is a registered Financial Services Provider […]

By Mike Heath|2023-04-14T16:06:34+12:00March 15th, 2017|Account Questions, Investment Portfolio Management Questions, Questions about InvestNow|Comments Off

Will I receive a tax report?

Following the end of the tax year (31 March) InvestNow will provide an Annual Tax Report which includes your PIE tax summary (taxable income and tax payable), FIF calculations (FDR and CV methods) where required, and a summary of other taxable income including listed PIE dividends and term deposit interest.

Throughout the year you can download an InvestNow Tax Summary Report in order to assist you or your accountant in the preparation of your tax return. Your Multi-Rate PIE investments are not included in the Tax Summary Report as PIE tax […]

By Mike Heath|2026-09-04T10:46:30+12:00March 13th, 2017|Tax Questions|Comments Off

How does InvestNow make money?

Investment managers pay InvestNow a distribution fee to have their products on our platform – this is our primary source of income.

In addition, InvestNow earns a distribution fee of 0.10% on Term Deposits offered on the platform (this fee does not reduce the interest rate yoru receive when you selected the Term Deposit ie what you see is what your receive, net of tax.

InvestNow also receives the interest on any money held within the Transaction Account, which helps to pay costs associated with offering and operating InvestNow. Transaction Accounts are […]

By Mike Heath|2026-08-10T16:07:07+12:00February 12th, 2017|Questions about InvestNow|Comments Off

At the end of the tax year, if I have a PIE tax obligation, how is it paid?

If you have any outstanding tax liability payable at the end of the tax year, we will pay this to the IRD on your behalf.

Prior to the PIE tax year end, we will send you an e-mail with a provisional calculation of your tax obligation. This will be followed by another email in early April once the final PIE calculations have been completed. You will have the option to make a deposit to cover the PIE tax payable. However, if you do not have sufficient funds available in your Transaction […]

By Mike Heath|2026-08-21T09:01:01+12:00February 6th, 2017|Tax Questions|Comments Off

How do I close my InvestNow account?

Managed Funds & Term Deposits Portfolio

Because there are no fees or costs associated with your InvestNow account, even if you have no money or investments in the account, there is no need to close your account. However, should you wish to do so please contact us on 0800 499 466 or contact@investnow.co.nz

KiwiSaver Portfolio

Your InvestNow KiwiSaver account is closed automatically if you have chosen to switch to another provider/scheme, automatically once your switch has been completed.

By Mike Heath|2026-08-14T08:42:34+12:00January 9th, 2017|Account Questions|Comments Off

What is the difference between an Investor and a Member?

An Investor is the entity (Youth, Individual, Joint, Trust or NZ Company) that has an account with InvestNow – it is the beneficial owner, in whose name that the investments are held.

A Member (also known as a Client) is an individual, or individuals, that have access to the Investor account i.e. they are “linked” to the account. Members can be either authorisers of transactions or simply have view-only permissions.

By Mike Heath|2026-09-01T09:17:21+12:00January 9th, 2017|Account Questions, Term Definitions|Comments Off

Do clearance periods apply to my InvestNow account?

Deposits
Deposits are processed throughout the working day, and should be in your InvestNow Transaction account within two or three hours, assuming you have used the correct nominated bank account and have included the correct reference. You will receive an email notifying you once the deposit has been processed and your monies are now available to invest.

Withdrawals
For withdrawals to your nominated bank account, the cut-off is 4pm for the withdrawal to be paid on the same day – otherwise the withdrawal will be processed on the afternoon of the following business […]

By Mike Heath|2026-08-03T16:10:46+12:00January 9th, 2017|Account Questions|Comments Off

How will tax on my Managed Funds be paid?

At the time you sell any units in a PIE managed fund or at PIE tax year end (31^st March) your PIE tax liability will be paid by InvestNow on your behalf and returned to the IRD.

If you are invested in listed PIE’s offered by Smart, during the year you may have received dividends from these funds. The dividends may include tax credits known as imputation credits, which are credits for NZ tax already paid by the companies the ETF is invested in, to ensure that the income isn’t […]

By Mike Heath|2026-08-21T09:08:47+12:00January 9th, 2017|Tax Questions|Comments Off