Tax free on NZ shares

[FIsaver]

So as I understand, New Zealand and Australian shares don't have capital gains or market movement tax. However income or dividends payed, you do have to pay tax on at your PIE rate.

When you use a reinvestment plan and get more shares - does this mean that you don't have to pay tax? (buy and hold >18 months) before sale and then it's just a broker fee.

Does this count for ETF's too?

Overseas shares get taxed at 5% of the total market value, regardless of an up or down movement. Over 10 years of a buy and hold investor this is a pretty big difference.

Example:
- 100k initial investment
- 10 years
- 10%pa return reinvested (S&P500 historic return before inflation)
- overseas taxed at 5%pa

NZ = $270,704
Overseas = $162,081

If this is a 59.87% total

difference after 10 years that averages out to 16.70% per year. Does this mean that overseas shares would need to beat our New Zealand shares by at least 16.70% for it to be 'worth' the same?