Super Plan

New Zealand Post

Super Plan


Change your tax rate

The rate of tax you pay on your savings in the Plan depends on which Prescribed Investor Rate (PIR) you have elected. It’s important to be on the correct tax rate. If you’re not paying enough tax, you will need to complete a personal tax return and pay any tax shortfall, interest and penalties.

Your current PIR is shown on the account statement we send to you each year. If your income has changed and you think you may need to change your PIR, fill in and return a confirmation of tax rate form. Download a confirmation of tax rate form.

The form includes a chart to help you work out your PIR. Or you can use Inland Revenue’s PIR calculator

Information to help you calculate your tax rate

When does the income year start and finish?

The income year runs from 1 April to 31 March. ‘Either of the past two income years’ means the year to 31 March 2019 and the year to 31 March 2020.

What is included in taxable income?

Taxable income includes income that would normally be included in your annual tax return, not just your income earned from employment at New Zealand Post. Common examples of taxable income are all salary and wages (including any taxable overtime and bonus amounts), interest income, most New Zealand dividends received, net rental income and New Zealand Superannuation. Any amounts received from the National Provident Fund or the Government Superannuation Fund are not included.

What is PIE income?

PIE is short for Portfolio Investment Entity. Many superannuation schemes and managed funds have chosen to become PIEs in order to pass on tax advantages for investors on lower incomes. The New Zealand Post Superannuation Plan is a PIE fund, and the income you get on your savings in the Plan is called PIE income.

Please call us on 0800 NZP Save (0800 697 728 – choose option 2) if you are not certain if something is PIE income.

Need further assistance?

Inland Revenue can help you answer these questions. Please call 0800 227 774 to contact Inland Revenue directly or visit their website.

This information is of a general nature only and is designed to help you determine your PIR. It is not tax advice. We recommend you seek advice from an advisor or Inland Revenue if required. While every effort has been made to ensure the accuracy of the information, no liability is accepted for any errors or omissions.