How do I invest in SBS Lifestages Deposit Portfolio?
We’re here to help you achieve your financial goals and we’ll work with you to find the best investment product to achieve them.
The Portfolio is a Portfolio Investment Entity (“PIE”). This allows the Manager to pay tax on your behalf. Under current tax laws, the Manager will calculate and pay tax on your behalf at one of the following prescribed investor rates (“PIR”):
- 12.5% if you are a New Zealand resident individual and your taxable income (other than PIE income) was $14,000 or less and your combined taxable and PIE income was $48,000 or less in either of the previous two income years.
- 21% if you are a New Zealand resident individual and:
- your taxable income (other than PIE income) was $14,000 or less and your combined taxable and PIE income was more than $48,000 but not more than $70,000 (and you do not qualify for the 12.5% rate) in either of the previous two income years; or
- your taxable income (other than PIE income) was more than $14,000 but not more than $48,000 and your combined taxable and PIE income was $70,000 or less in either of the previous two income years.
- 30% if you are a New Zealand resident individual and:
- your taxable income (other than PIE income) was more than $48,000 in both the previous two income years;
- your combined taxable and PIE income was more than $70,000 in both the previous two income years; or
- you have not provided an IRD number or have not elected a prescribed investor rate of 12.5% or 21%.
- 30% if you are non-resident.
- 0%, 21%, or 30% for all trusts, at their choice, and also 12.5% for testamentary trusts who so choose.
- 0% for companies and charitable trusts.
You are required to provide FANZ with your IRD number and tell FANZ the correct PIR to use. You are also required to advise FANZ if your correct PIR changes. If you do not advise FANZ of a change, or provide the wrong PIR, you may have an obligation to file a tax return and pay further tax as well as penalties and interest, or may have more tax deducted from your investment than is necessary.
For more information on Lifestages Deposit Portfolio rates and fees, to request an Lifestages Deposit Portfolio investment statement or to talk with one of our Financial Advisers, just phone us on 0800 502 442, visit our site by clicking here or call into your local branch.