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This discussion is an important reminder of how useful PIE funds are with their 28% top rate.
For top tax rate payers (39c) the annual tax benefit is 0.5% per annum on offshore FDR assets versus not holding your stocks in a PIE. With cash and bond returns in NZ now north of 5%, this is even more pronounced as every dollar of interest income is taxed.
The holy grail is a low fee PIE structure.
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