Update your tax details

You can update your tax details in Westpac One®, including your Prescribed Investor Rate (PIR).

To update your PIR, you'll also need your IRD number if you don't already have this.

  • Update tax details.
    Login to Westpac One and go to 'Profile' on top right corner.
  • Update tax details.
    Under 'Profile', select 'Tax Details' at the bottom.
  • Update your tax details.
    Update your tax details.
  1. 1
  2. 2
  3. 3
  • Update your tax details
    Login to Westpac One, go to 'Settings & profile' on the top left corner and then 'Profile'. You'll find 'Tax details' at the bottom.
  • Update your tax details.
    Update your tax details.
  1. 1
  2. 2
  • Update your tax details
    Login to Westpac One, go to 'Settings & profile' on the top left corner and then 'Profile'. You'll find 'Tax details' at the bottom.
  • Update your tax details.
    Update your tax details.
  1. 1
  2. 2
Loading...
  1. Smartphone
  2. Computer

More about Prescribed Investor Rate (PIR)

Your PIR is the tax rate applied to your Portfolio Investment Entity (PIE) investments. It's very important to let us know your IRD number and correct PIR. If your notified PIR is too low, you may need to pay any tax shortfall at your income tax rate (plus any interest and penalties) and file a tax return. If your notified PIR is too high, you can't claim back any excess tax we pay on your behalf because PIE tax is a final tax in this situation. If you invested prior to 1 April 2018 and don't provide your IRD number and PIR, then all taxable income attributed to you will be taxed at 28%. Finally, it is important to let us know if your PIR changes to ensure you’re not under or over taxed.

For individuals, your PIR will be one of:

10.5%. If you’re a New Zealand tax resident and in either one of the last two income years:

  • Your taxable income (excluding income from PIEs) was $14,000 or less; and
  • Your total income (including PIE income after subtracting PIE losses) was $48,000 or less.

17.5%. If you’re a New Zealand tax resident and you don't qualify for the 10.5% rate but in either of the last two income years:

  • Your taxable income (excluding income from PIEs) was $48,000 or less; and
  • Your total income (including PIE income after subtracting PIE losses) was $70,000 or less.

28%. If you don't meet the requirements for the 10.5% or 17.5% rates (or you fail to notify a PIR or your IRD number), or you’re not a New Zealand tax resident.


Income years generally run from 1 April in any year to 31 March the following year.


Please note: Inland Revenue can require us to disregard your notified PIR if it considers the rate is incorrect. If this is the case, we must apply whichever PIR Inland Revenue considers appropriate.


Non-New Zealand income counts when calculating your PIR
When you work out your PIR, you must include non-New Zealand sourced income in calculating your taxable income for any particular income year – even if you weren't a tax resident in New Zealand when that income was earned. This is especially important for new residents to consider. In some cases, new residents can elect out of this treatment. Simply visit Inland Revenue's website ird.govt.nz to find out more.

Related How-to's:

View terms & conditions