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Your Prescribed Investor Rate (PIR) 

Here you’ll find important information about your PIR

What is a Prescribed Investor Rate (PIR)?

Portfolio Investment Entities (PIE’s) operate under special tax rules which may deliver better after-tax returns for investors. A PIR is the tax rate that we use to work out how much tax to pay on the income you earn from these investments. You’ll need to work out your PIR. 

Why is it important?

You need to tell us your PIR and let us know if it changes. It’s important to give us the right PIR so your investments are taxed correctly:

  • If your PIR is too high, too much tax may be paid on your investments. The tax paid is treated as final and you won’t be able to claim a refund from Inland Revenue.
  • If your PIR is too low, you will need to file a tax return and pay any tax shortfall, interest and penalties to Inland Revenue. Any tax already paid will be available as a tax credit.

Your IRD number

Before your PIR can be applied to your investments, you also need to tell us your IRD number.  This must be provided to us within six weeks of opening a new investment in the ANZ PIE Fund. If you don’t, we’re required by law to close your account and refund the balance to you.

For investments opened before 1 April 2018, if we do not hold your IRD number your account will not be closed but the highest PIR of 28% will be applied.

How your investment affects your tax may depend on your individual circumstances. The information on this page is intended as a guide only. If you’re uncertain, you should consult a tax adviser or speak to Inland Revenue.

Important information for the products mentioned above is available in the ANZ PIE Fund Terms & Conditions. A copy of the ANZ General Terms and Conditions is available at any branch.

Working out your PIR

What your PIR is depends on whether you’re an individual investor or an entity (e.g. a company, partnership or trust, including trustees of trusts). Below you’ll find information to help based on your specific circumstances.

If you're an individual

 

If you're not an individual

Are you a New Zealand tax resident company, unit trust, charity, superannuation scheme, PIE or PIE investor proxy?

  • Your PIR is 0%. You will need to pay any tax on your attributed PIE income yourself.

Are you a New Zealand resident trustee (other than of a charitable trust) or a trustee of a superannuation fund?

  • Seek advice from a tax professional to help you choose the PIR that best suits your beneficiaries.

If you're investing with another person

If you are investing jointly with another person and your PIRs are the same, we will attribute income to the investor you tell us to. If your PIRs are not the same, we must attribute the income to the investor with the highest PIR. If you do not nominate an investor, we will attribute income to the first-named investor.

Updating your PIR

To update your PIR please call ANZ on 0800 269 296