If you were required to include an amount of income attributed by a portfolio investment entity (PIE) in your individual income tax return (IR3) and it's a:
you can exclude it from your income for Working for Families Tax Credits (WfFTC) and student loans.
You'd be required to include income from a PIE in your tax return if:
Peter receives WfFTC payments for his two children and also has a student loan. He has an investment in a KiwiSaver scheme that is a PIE. The PIE attributes $700 income to Peter's investment account. Peter provided a PIR lower than his correct rate so is required to include the income in his IR3.
Peter doesn't have access to the funds (they're locked-in) so he can exclude the $700 from his income for WfFTC and student loans