Tax status non-NZ members
The Scheme is a ‘Foreign Investment Zero-Rate Portfolio Investment Entity (PIE)’ for tax purposes.
Members who are not tax resident in New Zealand can 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 will have a PIR of 0% meaning that no New Zealand income tax should be payable by the Scheme on their attributed PIE income. Transitional residents who have recently moved to New Zealand can also elect a 0% PIR whilst they hold transitional resident tax status.
This is a summary only. Please consult your professional tax adviser for advice on the tax implication of investing in the scheme for your personal circumstances.