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Tax Administration Act 1994

Information, record-keeping, and returns - Statements, notices, and certificates

31B: Notification requirements for PIEs

You could also call this:

"Telling the tax office about PIE status changes"

Illustration for Tax Administration Act 1994

You must tell the Commissioner if you choose to become a PIE or a foreign investment PIE under section HM 71 or HM 71B of the Income Tax Act 2007. You do this by sending a notice in the prescribed electronic format. The notice is about your election to become a PIE. If you are a multi-rate PIE, you must follow the notice requirements when choosing to calculate and pay your income tax liability under section HM 42, HM 43, or HM 44 of the Income Tax Act 2007. You must also tell the Commissioner if you choose to cancel your PIE status under section HM 29 of the Income Tax Act 2007. You do this by sending a notice in the prescribed electronic format within one month of cancelling your PIE status. This notice is about your election to cancel your PIE status.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM350795.

Topics:
Money and consumer rights > Taxes
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31C: Notification requirements for multi-rate PIEs, or

"What a multi-rate PIE must tell you about your investment and tax"

Part 3Information, record-keeping, and returns
Statements, notices, and certificates

31BNotification requirements for PIEs

  1. An entity choosing under section HM 71 or HM 71B of the Income Tax Act 2007 to become a PIE or a foreign investment PIE, as applicable must notify the Commissioner of the election. The notice must be in the prescribed electronic format.

  2. A multi-rate PIE choosing to calculate and pay its income tax liability under an option set out in section HM 42, HM 43, or HM 44 of the Income Tax Act 2007 must comply with the notice requirements for making the election set out in the relevant provision.

  3. A PIE choosing under section HM 29 of that Act to cancel PIE status must notify the Commissioner of the election. The notice must be in the prescribed electronic format and be provided within 1 month of the cancellation of PIE status.

Notes
  • Section 31B: replaced, on (applying for 2010–11 and later income years), by section 613(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).
  • Section 31B(1): amended, on , by section 158(a) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63).
  • Section 31B(1): amended, on , by section 158(b) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63).
  • Section 31B(1B): inserted, on , by section 292 of the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Act 2018 (2018 No 5).