Money Made Simple
Welcome to Money Made Simple, a family of NZ-based financial literacy podcasts from Simplicity which keep it simple and get straight to the point. We want ALL Kiwis to have dignity, and a dignified life is one with choices. What can help with more choices? More money. So we're here to make Kiwis richer and smarter with money.
MONEY MADE SIMPLE WITH JENNIE AND LIV:
Join co-hosts Liv and Jennie on a fortnightly basis to help you understand the basics around money, finances, investing, KiwiSaver, and planning for a better future. We aim to provide information in a bite-sized, easy-to-listen way that simplifies the jargon. 'Cos who's got time for that! We want you to feel empowered and confident when thinking about money and investing - whether that be via KiwiSaver, investment funds, the share market, property, or whatever suits you.
THE ECONOMY MADE SIMPLE WITH SHAMUBEEL EAQUB:
Join Shamubeel Eaqub, Simplicity's Chief Economist, on a monthly basis to help you understand what's happening in the economy, job market, politics and financial markets. Tune in to get economic updates, interviews with NZ's key movers and shakers, and deep dives into topics you might want to understand better.
You can join the Simplicity community via the following channels:
Instagram: https://www.instagram.com/simplicity_kiwi/
Facebook: https://www.facebook.com/simplicitykiwi
LinkedIn: https://www.linkedin.com/company/simplicity-kiwi/
Or check out our website: https://simplicity.kiwi/
Cheers for listening - we appreciate each and every one of you %)
Money Made Simple
MMS #47 | From PIEs to PIRs: All your questions about tax and KiwiSaver answered
In this episode of Money Made Simple, Jennie and Liv dive into the not-so-sexy but super important topic of tax – specifically how it works inside your KiwiSaver.
Tax might not be everyone’s idea of a good time (trust us, we get it), but understanding the basics can make a big difference to how confident you feel about your KiwiSaver. Whether you've noticed your balance dropping in March, or you're just trying to figure out what a PIR is, this episode is for you.
This episode covers:
- Where, when and how your KiwiSaver is taxed
- What PIE funds are (hint: nothing to do with food unfortunately) and how tax works inside them
- The difference between how NZ and international investments are taxed
- Why you still pay tax even when your fund has made a loss
- How your Prescribed Investor Rate (PIR) affects your tax bill – and how to check it’s right
- What happens when you move overseas or have a kids’ KiwiSaver fund or joint investment fund
- Why paying more tax could actually be a good thing!
Resources mentioned in this episode:
- IRD’s PIR Calculator – work out your correct PIR
- Sorted – online resource for financial planning tools and information
- MoneyHub’s tax guide
- Canstar's blog – Is KiwiSaver Taxed?
- Simplicity’s tax FAQ
At the time of year, tax is one of the most common topics our Investor Services team gets asked about – and for good reason. So tune in and get the lowdown on KiwiSaver tax (with a few very average tax jokes thrown in for good measure - sorry in advance).
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Disclaimer: This podcast contains personal opinions and is intended to provide educational information only. It doesn't relate to your particular financial situation or goals and is not financial advice or recommendations. Simplicity New Zealand Limited is the issuer of the Simplicity KiwiSaver scheme and investment funds. For product disclosure statements please visit Simplicity's website simplicity. kiwi.