If you are investing in a New Zealand based fund or offer, you may be asked to provide a PIR or Prescribed Investor Rate. Below we have outlined how to determine what PIR rate applies to you.
What is a PIR?
A prescribed investor rate (PIR) is the tax rate that Jasper uses to pay tax on your behalf, based on the income you earn from your investments. There are four possible PIRs:
What is my PIR?
You will need to disclose the PIR rate that applies to you to ensure that your investments are taxed correctly.
If your PIR is too high, too much tax may be paid on your investments. The tax paid is treated as final and you won’t be able to claim a refund from Inland Revenue.
If your PIR is too low, you will need to file a tax return and pay any tax shortfall, interest, and penalties to Inland Revenue. Any tax already paid will be available as a tax credit.
Please use the below guide to work out your individual PIR.
Important: The information is based on our understanding of taxation law that applies as of March 2020 and is intended as a guide only. Tax legislation is subject to change. For tax advice relating to your specific circumstances, we recommend that you consult a professional tax adviser.