Stampede to PIEs as trust tax change looms

Stampede to PIEs as trust tax change looms
Julian Braithwaite said people will respond to tax signals. (Image: Craigs Investment Partners)
Pattrick Smellie
Brokers, lawyers and accountants report a stampede of high-income taxpayers interested in switching their trust arrangements to Performance Investment Entities to avoid the new 39% trust tax rate.“We are all thinking about it, how much we will change, create new products,” Julian Braithwaite, head of product at Craigs Investment Partners, said in submissions to parliament’s finance and expenditure select committee on behalf of the Securities Industries Association (SIA).“We are seeing a massive amount of inbound inquiry...

More Finance

BNZ defends profit as essential to attract capital
Finance

BNZ defends profit as essential to attract capital

The last major bank, BNZ, has fronted up to Parliament.

RBA’s policy shift brings February cut into focus
Finance

RBA’s policy shift brings February cut into focus

The central bank’s assessment reflected growing confidence that inflation is being tamed.

Todd suspends dividends, resets strategy
Finance

Todd suspends dividends, resets strategy

The family empire has also called time on offshore mega-projects.

Serko wants to better analysts' expectations
Finance

Serko wants to better analysts' expectations

The listed travel management firm aspires to $250m in revenue by FY30.

Staff reporters 10 Dec 2024