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.

Provide your IRD number to avoid a higher tax rate

Changes to the tax rules mean that if we don’t have your IRD number, from 1 April 2020, the default Resident Withholding Tax (RWT) rate on any interest earned on your accounts will be increasing 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.

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. We also can’t make retrospective changes to the tax already paid to Inland Revenue.

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 be one of the below, depending on your circumstances.

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 income (PIE income) was $48,000 or less

10.5%

  1. Your taxable income was $48,000 or less, AND
  2. Your income (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 requirements for 10.5% or 17.5%

28%

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 income (PIE income) was $48,000 or less

10.5%

  1. Your taxable income was $48,000 or less, AND
  2. Your income (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 requirements for 10.5% or 17.5%

28%

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.

You need to work out your income for each of the last two years. You can then choose the lower PIR for the current year. Generally, an income year runs from 1 April to 31 March. You can find your previous year’s PIE income on your PIE tax certificate.

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

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 11 33 55 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.