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Choosing the right Prescribed Investor Rate (PIR)

KiwiSaver and investment funds are Portfolio Investment Entities (PIEs). The income you earn from your PIE investments are taxable, and the amount of tax you pay is based on your Prescribed Investor Rate (PIR).

Depending on your circumstances, your PIR may be 10.5%, 17.5% or 28% (if you’re investing as an individual).

Use our guide to work out your PIR. Alternatively, you can work out your PIR using the PIR tool on the Inland Revenue website.

You can also refer to our guide for information on PIR if you’re not investing as an individual (e.g. trust, company or partnership) or if you’re investing with someone else.

Why it’s important

It’s important to make sure your PIR is correct so your investments are taxed correctly.

  • If your PIR is too high, you may pay too much tax and you won’t be able to claim back any overpaid taxdisclaimer
  • If your PIR is too low, you’ll likely be faced with an unexpected tax bill from Inland Revenue. 

If Inland Revenue believes your PIR with us is incorrect, they may provide us with an updated PIR for you. We’ll be required to update your profile with the new PIR.

You can subsequently change your PIR if you believe Inland Revenue hasn’t given us the correct one. You’ll also need to contact Inland Revenue and explain why you think the PIR is incorrect – you may need to provide them with updated income details for the past two years.

ANZ New Zealand Investments Limited is the issuer and manager of the OneAnswer KiwiSaver Scheme, the OneAnswer Multi-Asset-Class Funds and the OneAnswer Single-Asset-Class Funds. Important information is available under terms & conditions. Download the guide and product disclosure statement.

From the 2021 tax year onwards, you’ll be able to apply for a refund if you believe you’ve overpaid PIE tax. Contact Inland Revenue for more information.

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