@Tinwins, tell me something: I hear a lot of talk on here about...

@Tinwins, tell me something: I hear a lot of talk on here about people making the "wrong" (from an investment fundamentals perspective) investment choices because of the CGT implications: people not selling because they didn't want to incur tax, people hanging on to an overvalued investment "just another 6 months", to get a tax discount, etc.

This strikes me as symptomatic of poorly-designed tax policy, but that's another conversation. My question is: why don't all the Aussies use a NZ-domiciled investment vehicle? The kiwis don't pay capital gains taxes on ASX-listed investments (provided the taxman holds you to be investing rather than trading), and the current nominally left-of-centre PM has just explicitly ruled out any form of capital gains tax for the duration of her premiership.

Sure, you can't use the franking credits, but you could put your growth investments in the NZ vehicle at least, and keep the yield ones on the hotter side of the Tasman.

I presume I'm missing something?