Yes, it is tax time… If you have had a change of tax rate or change in income this last year please let your adviser know NOW.
Tax rates are important especially for investments, when you have them with fund managers. These tax rates are called your PIR – Prescribed Investor Rate. If you have invested in or are considering investing in a certain type of portfolio investment entity (PIE) such as a KiwiSaver scheme, then you will need a prescribed investor rate (PIR) to give to the PIE along with your IRD number.
Here is the link to the IRD website to check that you have your PIR correct:
If you have given your adviser/fund manager your PIR and you now think it is changed you can check what to do from the link below. If you are investing through a Trust you have options, you may choose a 28% or 0% tax rate, depending on your circumstances. The information about all obligations is listed in the IRD website here:
If you have any questions about this please discuss it with your financial adviser or fund manager.
On a more enjoyable note, it is also feijoa time, apple and feijoa crumble, yum!
The kiwifruit need just a bit more colder weather and it will be time to pick them too.