Your PIR rate can be adjusted at any time during the year up to the last week of March (so that the correct amount of tax is deducted and paid on your behalf to Inland Revenue (IRD). Once the tax payment is made to IRD in April, the IOOF Integral Master Trust will not be able to correct any over or under payment due to an incorrect PIR being provided.
Working out your PIR
* Trustees of testamentary trusts may also choose 10.5 per cent.
** This rate is subject to legislative change.
Information regarding PIR's in this guide is for the period from 1 October 2010 and future income years.
For further information in calculating the correct PIR, please contact your adviser or visit the Inland Revenue website at www.ird.govt.nz.
Changing your PIR rate
You can change your PIR rate at any time during the year up to the last week of March.