Personal tax summaries (PTS)

• What is a personal tax summary (PTS)?
• Will I be sent a PTS?
• Do I have to request a PTS?
• Who should request a PTS?
• How to request a PTS
• What expenses can be claimed on a PTS?
• Your PTS and Working for Family Tax Credits
• What happens when

What is a PTS?

A personal tax summary (PTS) is for salary and wage earners and shows your income and tax deduction details for the year. These details are based on the employment, pension or benefit information provided to us each month by your employer or payer. Your PTS tells you if you've:

• overpaid your tax and are due a refund, or
• underpaid your tax and have tax to pay.

Will I be sent a PTS?

We'll automatically send you a PTS by mid-July if you:

• received Working for Families Tax Credits from us
• received Working for Families Tax Credits from Work and Income and earned over:
  • $36,350 for the 2013 tax year and onwards
  • $36,827 for the 2010, 2011 and 2012 tax years
  • $35,914 for the 2009 tax year
  • $35,000 for the 2007 and 2008 tax years
  • $20,356 for the 2005 and 2006 tax years
  • $20,000 for the 2004 and previous tax years
• used the wrong tax code
• used a special tax code
• used a casual agricultural employee (CAE) or an election day worker (EDW) tax code and earned more than $200 from that source
• received income as an IR56 taxpayer only. See "Find out more" below.
• had a student loan for:
  • tax years from 1 April 2012, and had
    • $1,500 or more of income from casual agricultural or election day work, and your total income (including any other salary or wages) is $1,500 or more above the annual repayment threshold, and you didn't become a new borrower on or after 1 January of the tax year
  • tax years before 1 April 2012, and didn’t have enough money deducted from your salary, wage or benefit income.

If you don't have a student loan end-of-year repayment obligation you won’t receive an End-of-year repayment obligation notice.

We send your PTS in July because we need to first process all the employment details that your employer sends us at the end of the tax year.

Do I have to request a PTS?

Some people who don't automatically receive a PTS need to request one in August.

You must request a PTS if you...	and you received ...
received income from $48,001 to $70,000	more than $200 of interest taxed at less than 33%.
received income over $70,000	more than $200 of interest or dividends taxed at less than 33%.
received income over $48,000	more than $200 of taxable Maori authority distributions.
paid child support through Inland Revenue	more than $200 of interest, dividends or taxable Maori authority distributions.
received income from a portfolio investment entity (PIE)	attributed income that was taxed at a rate lower than your correct prescribed investor rate.

You'll need to request a PTS if you had a student loan for

• tax years from 1 April 2012, and had
  • $1,500 or more of income from casual agricultural work, election day work, interest, dividends, or Maori authority distributions, and your total income (including any other salary or wages) is $1,500 or more above the annual repayment threshold, and you didn't become a new borrower on or after 1 January of that tax year, or
  • interim payments due for that tax year
• tax years before 1 April 2012, earned over the repayment threshold of $19,084 and received more than $200 interest, dividends or taxable Maori authority distributions - even if they were taxed at the right rate.

If you don't have a student loan end-of-year repayment obligation you won't receive an End of Year Repayment Obligation notice.

Who should request a PTS?

You may be entitled to a refund if you:

• were entitled to the tax credit for children or the income under $9,880 tax credit for the 2012 tax year or earlier (find out more about tax credits)
• were entitled to the independent earner tax credit, but didn’t receive it all during the year from the 2010 tax year
• had more than one job during the year
• worked for only part of the year
• can claim expenses against your income. See What expenses can be claimed on your PTS? below.

The removal for 2013 and future income years of the tax credit for children and under $9,880 tax credit my result in a tax bill and not a refund.

How to request a PTS

If you're registered for myIR you can request and confirm your PTS through My income tax. This is the easiest way to request and confirm your PTS, and has the following benefits:

• your salary/wage/benefit/pension information is pre-populated (if applicable)
• you can save or print a copy for your records.

You'll need to have the following information to hand:

• any interest, dividend or taxable Māori authority distribution details
• whether you're entitled to the tax credit for children, the income under $9,880 tax credit for the 2012 tax years or earlier, or
• the independent earner tax credit from the 2010 tax year
• any expenses you can claim.

Your PTS will be available through myIR as soon as it is processed. If you're not already signed up to myIR, you can register now - go to "Secure Online Services".

What expenses can be claimed on a PTS?

You can claim the following expenses on your PTS:

• a fee charged by someone for completing your tax return
• commission on interest or dividend income (but not bank fees)
• interest on money you borrowed to buy shares or to invest, as long as the investment will produce some taxable income
• premiums on loss of earnings insurance, provided the benefit from the insurance policy is taxable income.

Your PTS and Working for Families Tax Credits

If you receive Working for Families Tax Credits from us, we'll send you a form at the end of the tax year, which shows your family details that we've used to calculate your Working for Families Tax Credits entitlement.

You need to check that the information on this form is correct. If you need to make any changes to your family details shown on the form, you can either call us, or update your details online by using our My family details and income service.

What happens and when

The PTS and refund process

Date	What happens
June and July	PTS sent Student loan end-of-year repayment calculations sent
August	Request a personal tax summary under "Get it done online" or through myIR
Once PTS is sent	Refunds less than $200 issued automatically Refunds more than $200 issued once you've confirmed your PTS

Find out more

• Understanding your PTS
• Tax credits
• The end of year repayment calculation (EYRC) for student loans
• What is an IR56 taxpayer?

Next steps

• Confirm your PTS
• Refund or tax bill?

 

Date published: 28 Mar 2013

Back to top