And in general there is no capital gains tax. Including things like, for example, shares in Berkshire.
...
It's more complicated.

Indeed--but hey, it's hard to get an entire tax code into a sentence even if you understand it.

To the vague extent that I follow, it's a little like a 2%/year wealth tax on your ex-NZ investments during the holding period, combined with no tax on realized profit when sold. A non-dividend-paying investment is deemed to have sent you a dividend equal to 5% of its value taxable as (if I understand) ordinary income taxable at around 40%, and ~40% of 5% is ~2%. Assuming most board denizens are top-tax-rate kinds of folks.

So in a year the increase of your share value was below 5% you choose A, otherwise B.

Yeah, more complexity. You have to make the same FDR-vs-CV choice for all your investments. Then there are "quick sale" rules. And it's not clear to me whether/which options fall into the FIF regime. And on and on...don't we all love tax codes!

Jim