Need help?

Call us on

0800 267 5494

Email us on

19 June 2018 KiwiSaver@amp.co.nz

Write to us at

AMP Services (NZ) Limited,

, ,
Freepost 170, P O Box 55
Mr E Kizilay
Shortland Street, Auckland 1140
PO Box 7034
Your Adviser
Taradale Ben Thomas
Napier 4141 06 834 3408
ben_thomas@amp.co.nz

AMP KiwiSaver Scheme Your member number:

K2237682
Annual Statement
You can view your AMP
Hello Ersel KiwiSaver Scheme account
on your smartphone.
Here is your AMP KiwiSaver Scheme Annual Statement. This annual unitholder
confirmation statement covers the period 1 April 2017 to 31 March 2018. Download the My AMP app and
stay connected with your AMP
You can see how much has gone into your account over this period, as well as any extra
KiwiSaver Scheme account 24
benefits you might have received. We have also included your PIE Tax Statement. hours a day, seven days a week.
Visit now amp.co.nz/myampapp.

Your account at a glance

For the period from 1 April 2017 to 31 March 2018

$14,849.16 $ 5,532.67
CLOSING BALANCE ACCOUNT

$9,316.49 INCREASE How have your savings

performed?
OPENING BALANCE 6.07% Your personal rate of return
PERSONAL RATE OF shows you how your savings
RETURN have performed over the year
based on when you have
Important: The balances and personal rate of return shown are before any end of year PIE tax liability or PIE tax rebates deposited and withdrawn
for the relevant year but after fees. money and after fees but
before PIE tax.

Summary of your savings

Here is a summary of your savings.

% of your investment Total value Are your savings invested in

the right fund?
AMP Growth Fund 100.0% $14,849.16 We have a new fund selector tool
to help you determine which is the
best fund for you at this point in
time. Check to see if you are in
the right fund by visiting
amp.co.nz/amp/
tools-and-calculators/fund-selector.

TAN
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*
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Page 1 of 2
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 Member name

Ersel Kizilay
My transaction details Member number

For the period from 1 April 2017 to 31 March 2018 K2237682

Current PIR
Opening balance $9,316.49 28.0%

Contributions

Member contributions $2,615.01

Employer contributions $1,841.94
Government contributions $423.69
Inland Revenue interest $3.52

Total contributions $4,884.16 Fees explained

Fund charges include
Fees management and
administration charges and
Member fees -$23.40 estimated costs and expenses.
Fund charges 1
-$161.50 They are charged as a
percentage of your balance.
Total fees paid -$184.90 It represents 1.35% of
your average balance. Member
fees are a fixed dollar fee which
PIE Tax is deducted from your account
monthly. It represents 0.19% of
PIE tax paid/rebated (year ended 31 March 2017)2 -$47.91 your average balance.

Total PIE tax collected/rebated during the period -$47.91

Investment earnings (or loss) $881.32

Closing balance $14,849.16

PIE tax paid/rebated (year ended 31 March 2018)3 -$66.00

Closing balance (after PIE tax) $14,783.16

All figures are in New Zealand dollars.

1
Some underlying fund manager charges have needed to be estimated. Estimates are based on all available
information provided by underlying fund managers and are similar to what you have paid. For more detail
on the methodology used see amp.co.nz/methodology
2
PIE tax paid/rebated ( year ended 31 March 2017) was transacted on 1 April 2017. This figure may be
different to that reported in your previous PIE Tax Statement if we collected PIE tax during the previous year.
3
PIE tax collected (year ended 31 March 2018) (if any) together with PIE tax paid/rebated (year ended
31 March 2018), which was transacted on 1 April 2018, is reflected as your Net PIE tax paid/or rebate
due on your PIE Tax Statement for the year ended 31 March 2018.
4
An IRD refund is calculated by Inland Revenue when they have overpaid your contributions. Please contact
your employer or Inland Revenue to get more details.
‡SuperRatings does not issue, sell, guarantee or underwrite this product. Go to superratings.com.au for details
of it's rating criteria.
*The CANSTAR 5 Star Rating was awarded in September 2017 for the AMP Default Fund within the
AMP KiwiSaver Scheme.
Go to canstar.co.nz/star-rating-reports/kiwisaver for more details.

A disclosure statement is available from your Adviser, on request and free of charge.
Page 2 of 2
 Member name

Ersel Kizilay
AMP KiwiSaver Scheme Member number

K2237682
PIE Tax Statement IRD Number

88-577-388
For the year ending 31 March 2018
Current PIR
In this summary you can see either tax we have paid for you or a rebate you have received. If you
28.0%
paid tax, some of your units were cancelled to cover the amount. If you received a rebate, extra
units were added to your account.
We have given you some information to help you understand this statement over the page.

Your Prescribed Investor Rate

28.0%
This is your Prescribed investor Rate (PIR) that applied at the end of 31 March or the date you
Check your PIR!

If it's too low, you'll have to

pay extra tax to Inland
withdrew from the scheme.
Revenue. If it's too high, you'll
pay unnecessary tax which
isn't refundable. Check what
Calculation details PIR you should be using at
amp.co.nz/PIE

If you need to change your PIR

Taxable investment income/or loss $461.37 log into My AMP
at amp.co.nz/myamp
Tax deductible expenses/or taxable rebates $85.97

PIE taxable income/or loss $375.40

PIE tax payable/or rebate $105.12

Tax credits claimed $39.12

Net PIE tax paid

/or rebate due
$
66 .00

We have paid this tax, or applied a rebate, on your behalf and you do not need to take
any action. This PIE tax paid, or rebate due has been processed on 1 April 2018.

If you have transferred or withdrawn from the Scheme, we pay rebates together with your withdrawal.

Important note relating to this PIE Tax Statement and accompanying AMP KiwiSaver Scheme Annual Statement:
AMP Wealth Management New Zealand Limited (AMP) is the issuer and Manager of the AMP KiwiSaver Scheme
(Scheme). The Supervisor of the Scheme is The New Zealand Guardian Trust Company Limited (Supervisor). None of
AMP, the Supervisor, the Crown or any other person or party guarantees the Scheme, the investments made or any
returns on an investment. Past performance is not indicative of future performance. Every effort has been made to
ensure the accuracy of the information in the PIE Tax Statement and accompanying Annual Statement. However, no
warranty of reliability or accuracy is given and no responsibility arising in any way from an error or omission is
accepted.

The information included in this PIE Tax Statement is of a general nature and is not a substitute for tax advice.
If you require tax advice we recommend you contact your tax specialist or Inland Revenue.

For a copy of the AMP KiwiSaver Scheme Product Disclosure Statement and Fund Update Booklet,
please visit amp.co.nz.

A disclosure statement is available from your Adviser, on request and free of charge.
Page 1 of 2
Commonly asked questions
about KiwiSaver
How much did my KiwiSaver account make?
You will see your investment earnings or loss shown beneath the
transaction section of your annual statement.
Why was my money held by Inland Revenue for
three months when I joined KiwiSaver? Did they earn
interest during that time?
When you are enrolled in KiwiSaver, you have three months to
choose a scheme provider. This waiting time is also when you
can opt out of KiwiSaver (between weeks two and eight).
Your money earns interest while it is with Inland Revenue.
How and when can I get my funds out?
Generally, you have to wait until you’re over 65 or have
been in KiwiSaver for five years or more (whichever is later).
However, you may be able to withdraw money early in some
circumstances. For example, first home purchase, serious illness,
financial hardship or permanent emigration.
Commonly asked questions
about PIE tax
What is a Prescribed Investor Rate?
The AMP KiwiSaver Scheme is taxed as a Portfolio Investment
Entity (PIE). Your level of taxable income decides your Prescribed
Investor Rate (PIR). The current PIRs are 10.5%, 17.5% and 28%.
For more information on which PIR to use, please visit
amp.co.nz/PIE or contact your Adviser or Inland Revenue.
Do I have to do anything with my PIE Tax Statement?
For most people, a PIE Tax Statement is for information purposes
only. However, if the PIR given to us was lower than it should
have been for the tax year ended 31 March 2018, you’ll need to
include your PIE income in your income tax return.
What if my PIR was incorrect?
It is now too late to change your PIR if it was incorrect at
31 March 2018, as your tax has now been finalised and paid for
the year. If your PIR needs to be updated, please log into
My AMP at amp.co.nz/myamp or call us on 0800 267 5494.
Please also refer to the information contained under the heading
‘Check your PIR’ on your PIE Tax Statement.
How do I know what my correct PIR is?
Your level of taxable income and PIE attributed income
determines your PIR. We recommend you visit amp.co.nz/PIE
to work out which rate to use.
Why doesn’t my taxable investment income or loss on
my PIE Tax Statement match my investment earnings
or loss, as shown on my annual statement?
Different tax rules apply to your scheme’s underlying
investments, so only some of your investment earnings or losses
are taxed. PIE tax is calculated on the taxable portion of earnings
or losses from your investment, not on any increase or decrease
in its value. Even if the value of your investment has gone down,
it may still have earned taxable income over the period that will
be subject to PIE tax.
Your PIE Tax Statement shows the portion that is taxed as PIE
taxable income or loss. Your annual statement will show your
total investment earnings, whether these are taxed or not.
How do I calculate PIE tax payable or rebate?
We calculate your PIE tax payable or rebate for you based on
your daily PIE taxable income. Your PIE tax payable or rebate is
the sum of each day’s PIE tax or rebate calculated.
Are my fees tax deductible?
All fees charged for membership and investment management
are treated as tax deductible expenses. We collect your share of
these fees by cancelling units in your fund(s). We then deduct
these fees from your PIE taxable income to calculate your PIE
tax liability. Tax deductible expenses are detailed in your PIE Tax
Statement as a positive amount.
Why is my employer’s contribution amount different
when we both contribute at the same rate?
Member contributions are calculated as a percentage of your
gross salary or wage and are deducted from your after tax pay.
Your full contribution is deposited into your KiwiSaver account.
Employer contributions are also based on a percentage of your
gross pay but have Employer Superannuation Contribution Tax
deducted before they are paid into your KiwiSaver account.
Glossary
Taxable investment income or loss
Taxable investment income is the taxable portion of your
investment earnings or losses. You may have taxable
investment income, even if your investment earnings
have decreased.
Investment earnings or loss
Investment earnings are the movement in the unit price
of your investment, written as a dollar value. If the unit
price of an investment has decreased during the year,
your investment earnings will be expressed as a negative
dollar amount. If the unit price has increased, investment
earnings will be positive.
Tax credits claimed
This represents credits for tax paid on underlying
investments. For example, imputation credits attached
to dividends received.
Units
As a member of the AMP KiwiSaver Scheme,
the money you save is pooled together with other
people’s. Your money buys ‘units’ which represent your
share of fund(s) you are invested in. The value of your
units is calculated on a daily basis and changes as the
market value of the assets in the fund rise and fall.
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WEL212494 04/18