At the time you sell any units in a PIE managed fund or at PIE tax year end (31^st March) your PIE tax liability will be paid by InvestNow on your behalf and returned to the IRD.

If you are invested in listed PIE’s offered by Smart, during the year you may have received dividends from these funds. The dividends may include tax credits known as imputation credits, which are credits for NZ tax already paid by the companies the ETF is invested in, to ensure that the income isn’t taxed twice.
For Australian-domiciled managed funds which are not PIEs, InvestNow does not pay tax on your behalf and you need to report income from these funds on your tax return. Your Tax Summary Report will contain a summary of the taxable income from these funds including both the Fair Dividend Rate (FDR) and Comparative Value (CV) calculations.

Your Tax Summary Report will reflect the details of all tax liability payments. We will produce a Tax Summary Report within six weeks of the end of the tax year, which can be downloaded from your My Documents page.