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Attributed income from a PIE

There are some facts you will need to know about your PIE to help you with your tax responsibilities.

When the PIE sends you your income tax details

Generally PIEs need to provide their investors with notices confirming information about their investments and tax credits available by 31 May or 30 June after the end of the tax year.

PIEs that quarterly file, and zero-rate the attributed income from the PIE of their exiting investors need to provide the information by giving a notice within one month of the end of the quarter in which the investor exited.

If you don't get any details from your PIE or you think the investor statement is wrong, then you need to contact the PIE.

PIEs listed on the New Zealand stock exchange that are not multi-rate PIEs may send a dividend statement to their investors.

PIE income and Inland Revenue

The PIE will forward the investor income details to us when they file their annual reconciliation.

When you file an income tax return which includes non-excluded income attributed from the PIE, we will acknowledge your return.

Ceasing your investments

If you want to cease your investment, you should contact your PIE to find out what is required, and whether there will be any costs involved.

You do not have to tell us if you exit the PIE.

Representation by proxy

If you are represented by a proxy and then cease to be, the proxy's obligations will pass directly to the PIE that holds your investment. You should tell the PIE your PIR and IRD number.

Companies changing their residence - up to 1 April 2012

If you are a ... and ... then you ...
company that has become resident in New Zealand   can apply a PIR of 0% from the date you become a resident of New Zealand.
resident company that has invested in a PIE then ceases to be resident in New Zealand should tell the PIE your PIR is now 28% from the date your New Zealand residency ceases. From 1 April 2012 you may qualify to be a notified foreign investor.

 

Find out about changes to or from being a notified foreign investor.

 


Date published: 30 Aug 2011

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