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Prescribed Investor Rate

As the IOOF Integral Master Trust (IMT) is required to pay tax on your behalf, you need to have a prescribed investor rate (PIR). This is because we use the PIR to determine how much tax is paid on your behalf. You will be required to provide a PIR and your IRD number with your IMT application. If you do not provide your IRD number, your PIR will automatically default to 28 per cent.

The PIR rate is the tax rate the IMT will apply to any income you earn while investing into the funds. The available rates are 0 per cent, 10.5 per cent, 17.5 per cent and 28 per cent.

It is important that you provide the correct PIR. In the unlikely event that an incorrect lower rate was used during the financial year, you will need to file a tax return. You will have to pay the underpaid tax. Interest and penalties may be imposed by Inland Revenue. If you provide a PIR that is too high, you will not be able to get a refund of overpaid tax.

Changing your PIR rate

You can change your PIR rate at any time during the year up to the last week of March.

Simply complete the form or email us at info@integralonline.co.nz