We have noticed a large volume of individual income tax returns being filed with either no or incomplete Portfolio Investment Entity (PIE) income information.
PIE income is reportable income and has formed part of the end of year income tax assessment for individuals since the 2021 income year.
A high proportion of these cases have used an incorrect Prescribed investor rate (PIR), which has an impact on the end of year assessment. Not all software pre-populates PIE income when filing returns through Gateway Services, so you will have to check what your software provider offers.
Alternatively you can confirm all PIE income received via myIR.
PIE income will pre-populate into individual tax returns filed in myIR from late May each year.