Stampede to PIEs as trust tax change looms

Julian Braithwaite said people will respond to tax signals. (Image: Craigs Investment Partners)

Thu, 01 Feb 2024

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...

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