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Thread: PIEs on NZSX

  1. #1
    Legend
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    Default PIEs on NZSX

    Where can I find a list of PIEs among NZX listings? Obviously the listed property trusts are (not that any of their web sites say so) - but is there a list of others somewhere?

  2. #2
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    All Smartshares Index funds and KFL , MLN , BRM are also listed PIEs

  3. #3
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    Just the property companies and the Fisher three that I know of. Some of SPG is a dividend rather than a PIE distribution. Something to do with stapled securities which I don't fully understand.

  4. #4
    Dilettante
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    I invest in a few Smartshare ETFs and they are all PIEs

  5. #5
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    Quote Originally Posted by iceman View Post
    I invest in a few Smartshare ETFs and they are all PIEs
    Yet there is no mention of this on their website - or on any other websites as far as I can see.

  6. #6
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    Quote Originally Posted by fungus pudding View Post
    Yet there is no mention of this on their website - or on any other websites as far as I can see.
    It is silly how difficult it is to find but in the "product disclosure statement" on their website, this is what it says:
    "How will your investment be taxed?
    Each fund is a listed portfolio investment entity (PIE).
    As a listed PIE, each fund will pay tax on taxable income
    at the rate of 28%. See section 6 for more information."
    Last edited by iceman; 05-05-2021 at 11:06 AM.

  7. #7
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    Quote Originally Posted by iceman View Post
    It is silly how difficult it is to find but in the "product disclosure statement" on their website, this is what it says:
    "How will your investment be taxed?
    Each fund is a listed portfolio investment entity (PIE).
    As a listed PIE, each fund will pay tax on taxable income
    at the rate of 28%. See section 6 for more information."
    Is that flat rate 28%? I was under the assumption PIEs pay tax at RWT of UP TO 28% max. ?

  8. #8
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    Quote Originally Posted by SBQ View Post
    Is that flat rate 28%? I was under the assumption PIEs pay tax at RWT of UP TO 28% max. ?
    No. All listed PIE's pay at 28%.

  9. #9
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    Quote Originally Posted by iceman View Post
    It is silly how difficult it is to find but in the "product disclosure statement" on their website, this is what it says:
    "How will your investment be taxed?
    Each fund is a listed portfolio investment entity (PIE).
    As a listed PIE, each fund will pay tax on taxable income
    at the rate of 28%. See section 6 for more information."
    It's more than silly. It doesn't help the company or the shareholders to make it so difficult to find.

  10. #10
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    Quote Originally Posted by fungus pudding View Post
    It's more than silly. It doesn't help the company or the shareholders to make it so difficult to find.
    Lol well as I mentioned before, taxation is never 'openly' discussed by NZ financial advisors, then why should the various managed funds be transparent about the whole tax situation?

    I'm shocked to see how a PIE fund pays 28% considering the NZ public companies (who these managed funds hold) also pay a corporate tax rate of 28%. Doesn't seem a lot is left over for the individual investor after taxes and fund management fees take their cut.

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