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HM 57B: Prescribed investor rates for new residents
or “How new residents' investment tax rates are determined”
You could also call this:

“Changes to tax rates for certain investment fund holders from October 2010”

If you have money invested in a multi-rate PIE (a type of investment fund) on 30 September 2010, this law explains how your tax rate will change from 1 October 2010. If your old rate was 12.5%, it will become 10.5%. If it was 19.5% or 21%, it will change to 17.5%. If it was 30%, it will change to 28%. However, you can tell the PIE if you want a different rate instead. These changes happen automatically unless you say otherwise.

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Next up: HM 59: Prescribed investor rates for certain investors: 0%

or “This rule about 0% tax rates for some investors no longer applies”
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Part H Taxation of certain entities
Portfolio investment entities: Prescribed and notified rates for investors in multi-rate PIEs

HM 58Transition of rate for certain investors

  1. This section applies to a multi-rate PIE in relation to a person who is an investor in the PIE, and the person has, on 30 September 2010, a notified investor rate of 12.5%, 19.5%, 21%, or 30%.

  2. On and after 1 October 2010, the person's notified investor rate is—

  3. 10.5%, if it was 12.5% on 30 September 2010:
    1. 17.5%, if it was 19.5% or 21% on 30 September 2010:
      1. 28%, if it was 30% on 30 September 2010.

        1. Subsection (2) does not apply if the person advises the PIE of a different notified investor rate.

        Notes
        • Section HM 58: substituted, on , by section 8 of the Taxation (Budget Measures) Act 2010 (2010 No 27).
        • Section HM 58(1): amended, on , by section 71(1) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).
        • Section HM 58(2)(b): amended, on , by section 71(2) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).