No one enjoys paying tax, even worse is paying too much tax! With tax returns currently being done, now is a good time to check you are paying the correct tax rate on your KiwiSaver or other investments.
Your Prescribed Investor Rate (PIR) tax rate for investments is based on both a) your taxable income and b) your Portfolio Investment Entity (PIE) investment income.
You can use this handy guide from Inland Revenue to calculate your correct PIR rate.
If you need to change your PIR rate, please either contact us or your bank or KiwiSaver provider.