What PIR (Prescribed Investor Rate) is applied to joint accounts?
What PIR (Prescribed Investor Rate) is applied to joint accounts?
For joint Investment Fund accounts where the account holders have different PIRs (Prescribed Investor Rates) tax is applied at the higher of the two rates.
Your Prescribed Investor Rate, or PIR, is the rate of tax you pay on the income generated from your investment - it can be 10%, 17.5% or 28%. To view or update the PIR on your Simplicity account, please log in to the member app and select Profile ...
You can set up a joint Investment Fund by completing our application form here. If each investor has a different PIR rate, the higher of the two rates will apply. Withdrawals can be requested by either account holder.
Simplicity Investment Funds are structured as PIEs. PIE stands for Portfolio Investment Entity. A PIE invests contributions from investors in different types of investments. The tax rate for your investment earnings from a PIE is referred to as your ...
There is no minimum initial investment amount for individual or joint accounts. For other entities, such as trusts or companies, the minimum initial investment is $100,000. After your account is open, there is no limit on the value of subsequent ...
Applying for an Investment Fund account only takes a few minutes online here. You'll need to provide your IRD number and NZ photo ID, like a passport and driver's licence. Once we've completed our verification checks, we'll send you information about ...