• Shares held in GPG are no longer covered by exemption from FIF rules. If you have previously applied the exemption, you will have to determine whether the FIF rules apply to you, effective 2013 year. If the value of your foreign investments is less than $50,000 you may choose to continue to apply the exemption or apply the FIF rules.
  • For the purposes of determining the cost base of the GPG shares, you use the original cost price. Alternatively for every GPG interest acquired before 01 January 2005, you can choose to use the opening market value of the GPG interest at the beginning of 2012-13 year.
  •  If FIF rules apply to you will use the Fair Dividend Method (FDR) which levies tax on 5% of market value of your shares at the beginning of the income tax year.