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Income Tax Act 2007

Taxation of certain entities - Portfolio investment entities - Exit rules

HM 27: When multi-rate PIE no longer meets investor interest adjustment requirements

You could also call this:

“Losing PIE status when investor interest adjustment rules aren't followed”

If you are a multi-rate PIE (Portfolio Investment Entity), you need to follow certain rules about adjusting investor interests. These rules are explained in section HM 48. If you don’t follow these rules, you will immediately lose your PIE status. This means you won’t be able to operate as a PIE anymore. It’s important to always make sure you’re meeting all the requirements in section HM 48 to keep your PIE status.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2888764.

Topics:
Money and consumer rights > Taxes
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“PIEs lose their status when they begin offering life insurance”

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HM 28: When listed PIE no longer meets requirements, or

“What happens when a listed investment fund no longer qualifies as a PIE”

Part H Taxation of certain entities
Portfolio investment entities: Exit rules

HM 27When multi-rate PIE no longer meets investor interest adjustment requirements

  1. A multi-rate PIE loses PIE status immediately if it fails to meet a requirement of section HM 48.

Compare
  • s HL 4(1)
Notes
  • Section HM 27: inserted, on (applying for the 2010–11 and later income years), by section 292(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).