What is a Prescribed Investor Rate (PIR)?
A PIR is the rate at which your investment income is taxed
If you do not meet one of the above criteria then the 28% rate will apply.
When you first join IWIinvestor you will be asked to notify IWIinvestor of your Prescribed Investor Rate. If you do not state which rate applies, then tax will be deducted at the default rate of 28%. You must also provide your IRD number when you join IWIinvestor
A PIR is the rate at which your investment income is taxed.
Under current rules, the Prescribed Investor Rates, as set out below, are 10.5%, 17.5% or 28%. The 10.5% or 17.5% rates apply to you if you are a New Zealand resident who meets one of the following criteria (for either of the two preceding income years i.e., years beginning 1 April and ending 31 March)
Can I transfer my Australian Super to KiwiSaver?
Legislation has been enacted in New Zealand that will allow the portability of retirement savings between KiwiSaver schemes and certain Australian Superannuation Funds and vice versa. The portability will be available once Australia enacts similar legislation and a process agreed between the Australian and New Zealand Governments is completed. Legislation was introduced into the Australian Parliament on 11 October 2012, and is currently expected to take effect from 1 July 2013.
Trans-Tasman portability will enable you to transfer your contributions including the Member Tax Credits. Because of this, once effective, you will not be entitled to withdraw your Member's Accumulation on a permanent emigration to Australia.
If you permanently emigrate to Australia the following rules will apply (once the legislation takes effect):
What if I stop working?
If you leave a job - voluntarily or involuntarily, then your employer will stop:
You have the option to continue contributing to KiwiSaver on a voluntary basis - and if you want to receive the annual Government tax credit payment of $521, you will need to contribute at least $1,042.86 yourself.