Tax benefits

As multi-rate portfolio investment entities or PIE funds, any capital gains made on most investments in New Zealand shares and most listed Australian shares will not be taxable to the Fund (or you), irrespective of the level of trading undertaken.

In addition, investors choose the marginal tax rate applicable to their circumstances, but with the maximum tax rate paid on income received by the Funds set at 28%. Where tax is deducted at the correct rate, no other tax is payable by individual investors on PIE income. This can present a significant tax advantage to investors on higher marginal tax rates.