Check or update your tax information

If you need to check or update the tax information Kiwibank has for you, you can do this directly through internet banking or our mobile app – it's easy and fast.

Resident Withholding Tax (RWT) - changes from 1 April 2020

Provide your IRD number to avoid a higher tax rate

If we don’t have your IRD number, from 1 April 2020, the RWT rate on any interest earned on your accounts will increase from 33% to 45%.

You can check or add your IRD number through internet banking or our mobile app. If you don’t know your IRD number, or need to apply for one, visit ird.govt.nz or call IRD on 0800 227 774.

End of year tax certificates no longer provided automatically

For interest earned from 1 April 2020, if you've provided us with your IRD number, you'll no longer be sent an end of year RWT / NRWT certificate from us. Instead, details of interest you’ve earned and tax deducted will be available on your myIR account. If you don't have a myIR account you can register for one by visiting ird.govt.nz or calling 0800 227 774.

If you'd like an RWT certificate from us, you can request one by contacting us on 0800 113 355 or from overseas +64 4 473 1133.

If you haven't provided us your IRD number we'll still provide you with a tax certificate.

RWT exemption register

From 1 April 2020, Inland Revenue will no longer issue RWT certificates of exemption. Instead, your exempt status will be shown on an online register maintained on Inland Revenue’s website.

If you have an RWT exemption certificate you should automatically appear on the register (unless your exemption has been cancelled, has expired or been revoked). We'll continue to treat you as RWT exempt if you've already provided us a copy of your exemption certificate and you appear on the exemption register.

If you've recently received an RWT exemption from Inland Revenue and would like us to apply the exemption to your accounts, you can call us on 0800 113 355 or from overseas +64 4 473 1133. You'll need to provide your IRD number so we can search and confirm your exemption status against the register before applying the exemption. If you don't appear on the register, we won't be able to apply exempt status to your account.

Prescribed Investor Rate (PIR)

If you have a Notice Saver, PIE Term Deposit, PIE Online Call or Kiwi Wealth KiwiSaver account you'll have a Prescribed Investor Rate (PIR) – this is the rate of tax you pay on PIE income earned and may be different to your resident withholding tax (RWT) rate.

We can’t give you tax advice, so we can’t tell you which PIR you should select. It’s your responsibility to select your PIR and advise us of any changes.

The information below is intended as a general guide only. For tax advice relating to your specific circumstances, you should contact Inland Revenue or a tax professional.

Working out your PIR (individual & joint investors1)

Your PIR will depend on your worldwide income for the last two income years. Generally, an income year runs from 1 April to 31 March. You can find your previous years PIE income on your PIE tax certificate.

If in either of the last two income years:

Your PIR will be:

  1. Your taxable income was $14,000 or less, AND
  2. Your taxable income (including PIE income) was $48,000 or less

10.5%

  1. Your taxable income was $48,000 or less, AND
  2. Your taxable income (including PIE income) was $70,000 or less

17.5%

  1. You’re not a New Zealand tax resident, OR
  2. You don’t meet the above requirements for 10.5% or 17.5%

28%

If your income calculation above for each of the last two income years results in two different PIRs, you can then choose the lower PIR for the current year.

Joint account holders are treated as one account holder – and the PIR for the account is applied to the account is the highest PIR of any joint account holder.

1Excludes individuals who are a trustee of a trust. If you're investing as a trust, company, charity, incorporated society or other form of entity please refer to ird.govt.nz or seek advice from a tax professional.

How to check or update your PIR

Any changes you make will apply to both Kiwibank accounts and Kiwi Wealth KiwiSaver.

Internet banking

  1. Login to internet banking
  2. Click on 'Settings'
  3. Click on 'Personal Details'
  4. Scroll down to 'Tax Details' – check or update your PIR/RWT.

Mobile app

  1. Login to our mobile app
  2. Click on 'Settings' from the side menu
  3. Click on 'Personal Details'
  4. Click 'Tax Details' – check or update your PIR/RWT.

No IRD number loaded? You can add this yourself or if it’s incorrect contact us to update it.

No internet banking or mobile app access?

  • Check your statements to see what PIR is used for your end of month interest – if this is correct you don’t need to contact us.
  • To make changes, call us on 0800 113 355 or from overseas +64 4 473 1133 between:
    • Mon - Thu: 7am - 9pm
    • Fri: 7am - 8pm
    • Sat - Sun: 8am - 4:30pm.
  • Kiwi Wealth KiwiSaver only? Visit kiwiwealth.co.nz or contact KiwiWealth Customer Services on 0800 427 384 or questions@kiwiwealth.co.nz.