Letter of Undertaking for applications for a First Home Benefit
The chart on the flip side of the form gives more information. In summary, people with a taxable income above $48,000 should pay tax on portfolio investment entities (PIE) such as KiwiSaver at the rate of 28 per cent, while people with an income of between $14,000 and $48,000 will generally pay the 17.5 per cent rate. Only those with an annual income below $14,000 should pay the 10.5 per cent rate.
To update your Prescribed Investor Rate (PIR) on your BCF KiwiSaver please complete and return the attached form to us at [email protected].
Your PIR is shown at the top of your annual statement and your latest statement.
This applies to all overseas countries except Australia. The transfer of funds (due to permanent emigration) to an Australian Super Scheme is not currently available.