mySTART® invests in a range of growth assets and income assets in New Zealand, Australia and around the world.
mySTART® aims to achieve capital and/or income growth over the medium to long term through:
- The performance of your investments
- Re-investment of dividends from your investments
- Re-investment of interest from any cash or fixed interest investments you hold in your portfolio
mySTART® offers the choice of selecting individual securities from our list of over 100 nominated securities and from our range of Defined Portfolios.
Go to the mySTART® Investment Options
mySTART® offers a made-to-measure Select Portfolio, which you can tailor to your specific needs by choosing from the list of nominated investments available via mySTART®. You may wish to consider this option if you have more than $50,000 to invest and a greater risk tolerance.
To gain a list of the individual securities available via mySTART® contact your Craigs Investment Partners Adviser or contact your nearest branch.
Craigs Investment Partners Investment Management Limited manages the performance of the Defined Portfolios, and the Select Portfolios are monitored by your Investment Adviser.
Every April and October, or any other time you request, we will send you a statement outlining all the investments that make up your mySTART® portfolio.
You can also view the performance of the Defined Portfolios.
Fees are extremely competitive and consist of the following:
- Entry and Exit Brokerage
- Custodial Service Fee and
- Administration Fee
There are no other fees with mySTART® however Craigs Investment Partners reserves the right to change the above fees from time to time.
You can start contributing to mySTART® with as little $100 per month.
To understand more about mySTART® Fair Dividend Rate Taxation download our Guide to the mySTART® FDR Taxation Summary.
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What is PIR?
PIR stands for Prescribed Investor Rate, it may also be referred to as PIE tax rate.
Your PIR will be applied to any investments you have invested in a PIE. There are three rates: 10.5%, 17.5% and 28%. This may differ from your income tax rate (marginal tax rate).
When do you need your PIR?
Your PIR (Prescribed Investor Rate) is required to ensure you are taxed appropriately on your PIE income. If you are investing in one of Craigs Investment Partners Defined Portfolios (which are PIEs) then you might be eligible for a tax reduction. This is because your income generated from your PIE investment, will now be taxed based on your income.
What if you submit the wrong PIR or your PIR rate changes?
If you confirm a PIR at 17.5%, but it should in fact be 28%, then you will have to file a tax return and pay the additional tax to the Inland Revenue (IRD penalties may apply).
If you are entitled to a PIR of 17.5% but have been using the 28% PIR, then the additional tax you have paid is not reimbursed. You must notify Craigs Investment Partners of your PIR or if this changes.
What if I don’t supply my PIR to Craigs Investment Partners?
If you do not supply your PIR and IRD number to Craigs Investment Partners, and you are investing in one of our Defined Portfolios (which are PIEs), then your PIR will automatically be set at:
- 33% for income generated prior 31 March 2008
- 30% for income generated after 1 April 2008 but prior to 1 October 2010
- 28% for income generated after 1 October 2010
Information to help you select the correct PIR is available from Inland Revenue.
The attached PDF document will help you identify your PIR.
Download the How to work out your Prescribed Investor Rate (PIR). Please contact your Craigs Investment Partners Investment Adviser for guidance. However – we are not tax specialists and we recommend you confirm your PIR with the Inland Revenue Department.
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To view the PDF files on this site, you will need a copy of Adobe Acrobat Reader®.
This can be downloaded for free from the Adobe website.
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