What's my PIR?
Find your correct NZ Prescribed Investor Rate for KiwiSaver and PIE funds. Using the wrong PIR means a year-end tax bill (or a refund) — so let's get it right.
Your PIR is based on the last two income years. For each year, enter your taxable income (salary, wages, interest, etc.) and any attributed PIE income (what your KiwiSaver or PIE fund reported). The calculator uses the lower of the two qualifying rates, per IRD rules.
Income Year 1 (most recent)
Income Year 2 (previous)
Your PIR is
17.5%
Year 1 qualifies for 28.0% and year 2 for 17.5%. IRD applies the lower rate, so your PIR is 17.5%.
Year 1 qualifying rate
28%
Taxable $60,000 + PIE $0 = $60,000 combined
Year 2 qualifying rate
17.5%
Taxable $50,000 + PIE $0 = $50,000 combined
PIR vs your marginal rate
Your marginal income tax rate at $60,000 is 30.0%. Every $1,000 of PIE income is taxed at 17.5% (=$175) instead of your marginal rate ($300) — saving $125 per $1,000 of PIE returns.
| PIR | Taxable income | Taxable + PIE income |
|---|---|---|
| 10.5% | ≤ $15,600 | ≤ $53,500 |
| 17.5% | ≤ $53,500 | ≤ $78,100 |
| 28% | Otherwise | Otherwise |
A qualifying rate is assessed in each of the last two income years. Your PIR is the lower of the two.
Since 1 April 2020, IRD reconciles your PIE tax as part of the end-of-year auto-assessment:
- Rate too low: you'll receive an auto-assessment tax bill for the shortfall.
- Rate too high: IRD refunds the overpaid PIE tax in your assessment.
Before 1 April 2020 the rules were harsher: a too-low rate meant IRD topped you up at your marginal rate, but a too-high rate was locked in — no refund.
Give your correct PIR to every PIE provider (including KiwiSaver) and update it whenever your income changes materially.
About the two-year test
IRD assesses your PIR on a rolling two-year window. For each of the last two income years, a qualifying rate is derived from your taxable income and your attributed PIE income. Your overall PIR is the lower of those two qualifying rates — this means a single high-income year won't automatically push you up a bracket if the other year was lower.
The thresholds shown apply from 1 April 2025 onwards (they were raised as part of the Budget 2024 income-tax changes). If you're checking a PIR used before 1 April 2025, the previous thresholds ($14,000 / $48,000 / $70,000) applied.
Frequently asked questions
What is a Prescribed Investor Rate (PIR)?
A PIR is the rate at which a Portfolio Investment Entity (PIE) — including KiwiSaver and most managed funds — pays tax on the investment income attributed to you. The three rates are 10.5%, 17.5% and 28%. Giving your provider the correct PIR means the fund withholds the right amount on your behalf.
How is my PIR worked out?
IRD applies a two-year test. For each of the last two income years, your qualifying rate is determined by your taxable income and your combined (taxable + attributed PIE) income against the thresholds ($15,600 / $53,500 / $78,100 from 1 April 2025). Your overall PIR is the lower of the two qualifying rates.
What happens if I use the wrong PIR?
Since 1 April 2020, IRD automatically reconciles PIE tax at year-end. If your rate was too low, you'll get a tax bill for the shortfall; if it was too high, IRD refunds the overpayment. Before 1 April 2020, a too-high rate was locked in with no refund.
What is my PIR as a non-resident?
Non-residents for NZ tax purposes use 28% by default. Some providers can register you for a non-resident PIE with different rules — check with your provider.
Do I need to update my PIR?
Yes — whenever your income changes materially (e.g. a pay rise into a new tier, or a drop in income). Each PIE provider (including KiwiSaver) needs to know your current correct PIR.
Is the PIR the same as my marginal tax rate?
No. The PIR is capped at 28% even if your marginal income tax rate is 30%, 33% or 39%. That cap is the main reason PIE funds are tax-efficient for higher earners. See our PIE vs Direct Investment calculator to quantify the difference.
Related Calculators
PIE vs Direct Investment
Quantify how much tax your PIR saves vs direct shares.
KiwiSaver Retirement Projector
Project your KiwiSaver balance — uses your PIR for fund tax.
Dividend Tax Calculator
Tax on NZ dividends with imputation credits.
Income Tax Calculator
Work out your taxable-income figure to plug in above.
Source: IRD — Find my prescribed investor rate. Thresholds effective 1 April 2025. Last updated April 2026.