Originally Posted by
Snoopy
You may be overthinking the role of the IRD here.
The IRD are there to administer tax law - and that is it. The aren't there to moralise about people's means. If people choose to receive all of their income from PIEs and so cap their maximum tax rate at 28% that is perfectly legal and is in accordance with NZ tax law. Nothing to see here. Nothing for the IRD to follow up on.
Don't think you can hide your wealth in a listed PIE like KFL. KFL is a public company so anybody, including the IRD, can apply to look through the share register. Of course such a search would be pointless because there is nothing illegal or 'tax dodgy' about owning KFL units. It would be a pointless search if the IRD did that, which is why they don't do it. But that doesn't mean the IRD is not able to search the KFL register.