Tax status non-NZ members

The Scheme was a ‘Foreign Investment Zero-Rate Portfolio Investment Entity (PIE)’ for tax purposes.

Members who were not tax resident in New Zealand could elect to be ‘Notified Foreign Investors’ by selecting the 0% Prescribed Investor Rate (PIR) on the Application Form and providing the required information regarding their tax file number in their local jurisdiction, their name and address.  Notified Foreign Investors could have a PIR of 0% meaning that no New Zealand income tax was payable by the Scheme on their attributed PIE income. Transitional residents who recently moved to New Zealand could also elect a 0% PIR whilst they held transitional resident tax status.

This was a summary only.  Please consult your professional tax adviser for advice on the tax implication of the investments you held in the Scheme and the distributions made, for your personal circumstances.