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Partnerships can hold investments in portfolio investment entities (PIEs). Each partner has tax obligations in relation to their share of the income from the investment.

If a partnership invests with a multi-rate PIE (MRP), the investment should be split so that each partner can provide the MRP with their own IRD number and prescribed investor rate (PIR).

New investors have 6 weeks to provide their IRD number to the MRP. Otherwise the MRP will close their account and refund their investment.

For income attributed during the 6 weeks, the MRP will:

  • work out tax using the default rate and pay this to us
  • include any net balance in the refund of an investment.

If partners do not provide the MRP with their PIR, the default rate of 28% will be used. 

Partnership prescribed investor rates

Limited partnerships are not treated as separate entities under the PIE rules.

The following PIRs apply to partners in partnerships:

Investor Prescribed investor rate
Zero-rated companies 0%
Individuals 10.5%, 17.5%, 28%
Partners who are trustees 0%, 10.5%, 17.5%, 28%

 

Last updated: 13 Jul 2021
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