If you're investing in a PIE, be sure to get the right tax rate (Prescribed Investor Rate/PIR).  Y ou should check with us when we do your tax return each year as it can change from year to year and there are no refunds of overpaid tax.

If your income is less than $48,000, use a rate of 17.5% unless you have so much PIE income that it exceeds $22,000. If husband and wife have PIE income in their joint names but their taxable incomes are taxed at different rates, it's better to split the PIE investment into two halves and invest separately, so one can be taxed at the lower rate. Otherwise, the whole of the investment has to be taxed at the rate applying to the higher taxpayer.

It is important to get your PIR correct on your PIE investments so contact us if you would like us to review your tax position and advise on the rate you should be using.