What your talking about is only the income from your PIE investment but as an example Kiwi Income Property Trust is a PIE. You can trade the units in the trust the same way you can trade any shares on the NZX. The distributions you receive while you hold the KIP units will be excluded income but a profit on the sale of the units is a capital gain on the investment and the gain on sale may be taxable if you are a trader rather than a long term investor. If its a Cash PIE like Rabos Cash Advantage Fund there is nothing to trade becuase its the same as a savings account.
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