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.