PIE income
About your 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 the information by 30 June following the tax year.
PIEs that quarterly file, and zero-rate their exiting investors need to provide the information by giving a notice to the investor within one month of the end of the quarter in which the investor exited the PIE.
If you don't get any details from your PIE or you think the investor statement is wrong, then you need to contact your PIE.
PIEs listed on the New Zealand stock exchange may send a dividend statement to their investors.
Excluded and non-excluded income
Excluded income is income allocated by the PIE that does not need to be included in your tax return.
Non-excluded income is income allocated by the PIE that must be included in your tax return.
PIE income and Inland Revenue
We do not need to know what your investments are. PIEs that calculate tax based on their investors' PIR, forward investor income details to us when they file their annual reconciliation.
If the PIR provided to your PIE is correct, we will not send you anything relating to the income from your PIE. However if you file an income tax return which includes non-excluded income allocated by the PIE, we will acknowledge your return.
How other obligations are affected by PIE income
Student loan repayments
| If the PIE income is ... | then it ... |
|---|---|
| excluded income | is not taken into account when determining student loan repayments. |
| not excluded income | will be taken into account in determining student loan repayments. |
Child support payments
| If the PIE income is ... | then it ... |
|---|---|
| excluded income | is not taken into account when determining child support payments. |
| not excluded income | will be taken into account in determining child support payments. |
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.
Represented by a portfolio investor proxy
If you are represented by a portfolio investor proxy and cease to do so, the proxy's obligations will pass directly to the PIE that your investment is held in.
Investors leaving or arriving in New Zealand
| If you are ... | and you ... | then you ... |
|---|---|---|
|
a non-resident who has invested in a PIE |
become a New Zealand resident |
can use a PIR of 19.5% for two years after becoming a resident of New Zealand. You must advise the PIE of the change from 30% to 19.5%. |
|
a non-resident who has not previously invested in a PIE |
become a New Zealand resident |
can use a PIR of 19.5% for two years after becoming a New Zealand resident.* |
|
a resident who has invested in a PIE |
cease to be a New Zealand resident |
should use a PIR of 30% from the date you cease to be a New Zealand resident and tell the PIE of the change as soon as possible. |
*Your PIR is based on income taxable in New Zealand received in the previous two tax years.
Date published: 11 May 2008
Back to top
