The ANZ PIE Fund operates under the Portfolio Investment Entity (‘PIE’) special tax rules. This means that the maximum tax rate applied to income earned in the ANZ PIE Fund is 28%. If you are paying income tax at a rate of 30% or 33%, you’ll benefit from the difference between your income tax rate and the maximum PIE tax rate. The rate at which your income earned from the ANZ PIE Fund is taxed is called your prescribed investor rate (‘PIR’).
You may also benefit if you have a PIR of 10.5% or 17.5%. More information is available in the ANZ PIE Fund Investment Statement.
Deciding to invest in the ANZ PIE Fund
If your PIR is lower than your current income tax rate, then you may receive greater after-tax returns in the ANZ PIE Fund than from a traditional bank deposit. Before making your investment decision, you should compare your PIR with your income tax rate to work out if the ANZ PIE Fund will offer you a better effective rate of return.
Understanding the effective rate of return
The effective rate of return is the rate you would need to earn on a traditional bank deposit taxed at your income tax rate to achieve the same after-tax return you can achieve by investing in the ANZ PIE Fund taxed at your PIR.
Investments in the ANZ PIE Fund are taxed at your PIR (the maximum PIR is 28%). Our case studies assume your income tax rate is higher than your PIR (that is, 30% or 33%), and that this is the rate at which you would pay tax on a traditional bank deposit.
How to apply
Read the ANZ PIE Fund Information Brochure below and come into any ANZ branch.
ANZ Investment Services (New Zealand) Limited, the issuer of the ANZ PIE Fund, has elected that the Financial Markets Conduct Act 2013 (FMCA) will apply to all offers of securities in the ANZ PIE Fund made from 1 December 2014. See the notice to the Financial Markets Authority under Part 1 of Schedule 4 of the FMCA confirming that election below.
A copy of the ANZ PIE Fund Information Brochure, Terms and Conditions and Financial Statements can be obtained below, from any ANZ Branch, or by calling 0800 269 296.
- ANZ PIE Fund Information Brochure (PDF 366kB)
- ANZ PIE Fund Terms and Conditions (PDF 231kB)
- ANZ PIE Fund Financial Statements (PDF 580kB)
Investments in the ANZ PIE Fund issued by ANZ Investment Services (New Zealand) Limited do not represent deposits or liabilities of ANZ Bank New Zealand Limited or Australia and New Zealand Banking Group Limited (together “ANZ Group”). Neither ANZ Group or The New Zealand Guardian Trust Company Limited (the "Trustee") stand behind or guarantee ANZ Investment Services (New Zealand) Limited. Investments are subject to investment risk, including possible delays in repayment, and loss of income and principal invested. Neither ANZ Group nor the Trustee will be liable to you for the capital value or performance of your investment.
A copy of the Bank's General Disclosure Statement under the Reserve Bank of New Zealand Act 1989 is available on this website or on request from any ANZ branch, free of charge.
You need Adobe Reader to view PDF files. You can download Adobe Reader free of charge.