A PIE (portfolio investment entity) is intended to be a final tax on the investment, and not go into your tax return. They work best for salary and wages people whose total income is greater than $70k.
Generally our recommendation is to not invest in a PIE, and for investment portfolio to have a PIR of 0%. All Kiwi saver accounts are PIE’s.
If your PIR is too low, then that investment income is included in your tax return and you make up the missing tax. If the PIR is too high, you have overpaid your tax but it is not refunded. The new IRD system clearly shows when you have under or overpaid your taxes.
If/ when IRD let you know that you need to change your PIR, please let us know, because it’s a little bit complex and won’t take account of current activity if you have more than just wages/salary as income