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Entry

By entering this Prize-Draw, entrants agree to be bound by these terms and conditions and acknowledge the Smartshares Privacy Policy https://smartshares.co.nz/privacy-policy. Information on how to enter this Prize-Draw forms part of these terms and conditions.
Only Eligible Persons can enter this Prize-Draw. To be an Eligible Person, you must have completed our Customer Survey before 11:59pm on 24 October 2023.
Staff of Smartshares Limited and their immediate families are not eligible to enter this Prize-Draw.

The Prize Draw

There will be one draw in the Prize-Draw. The winner of the Prize-Draw will be drawn at random from a pool of all Eligible Persons on 30 November 2023 (Draw Date).
The first Eligible Person whose name is drawn will be the Prize Winner.
The prize will be one $1,000 Prezzy® Card (Prize).
The Prize Winner will be contacted by Smartshares using the email address that Smartshares has for the Prize Winner.
If Smartshares is unable to contact the Prize Winner after a period of four weeks following the Draw Date, having made reasonable efforts to do so, that person’s entry will be declared invalid and the Prize will be re-drawn.
The Prize Winner agrees to publication of their name, as the Prize Winner.

General

Smartshares reserves the right to disqualify any entrant for tampering with the entry process or attempting to act in a fraudulent or otherwise dishonest manner, and to disqualify any entry in the Prize-Draw in its sole discretion without giving reasons.
The Prize will be couriered to the Prize Winner within 21 days of confirming the delivery address of the Prize Winner.
By using the Prezzy Card, the Prize Winner agrees to the terms and conditions, and the card fees set out at www.prezzycard.co.nz. The Prize Winner should refer to www.prezzycard.co.nz/terms-conditions for detailed Prezzy Card terms and conditions, including, but not limited to, their use and expiry.
The Prize is not exchangeable or negotiable. However, if the Prize Winner does not wish to claim their Prize, they may nominate another person to whom their Prize can be transferred. If it is transferred, the Prize must not be sold or used, donated or given away as part of another promotion.
Smartshares will not be liable for any loss, claim, cost, expense, liability or injury (Loss) suffered by any participant in any way associated with the competition including as a result of entry into the competition or winning the Prize, except where such Loss cannot be excluded by law.
These terms and conditions are governed by and construed in accordance with the laws of New Zealand and are subject to the exclusive jurisdiction of New Zealand courts.
This competition is run by Smartshares Limited NZBN 9429038512483.

SuperLife offers the ideal workplace savings solution. Benefits include:

You set the rules - SuperLife lets you tailor the rules around contributions and benefits, so that you can create a plan designed for your business. It's more than just superannuation; we can add other benefits to your plan like KiwiSaver, insurance and voluntary savings.
Seamlessly integrated - we take care of the administration (such as contributions and payments) and ensure that you and your employees receive regular information, including market updates.
Flexibility - through SuperLife, your employees can choose from a broad range of passive, low cost investment options to tailor a solution for their needs.

Choose an employee benefits provider that puts its members interests first.

1. Current PIR held

This refers to the current PIR we have on record for you.

2. SuperLife schemes

The tax summary table covers every SuperLife scheme you are invested, except the SuperLife UK pension transfer scheme which is not a portfolio investment entity (PIE). Every fund in SuperLife Invest is detailed because each fund is a PIE. You can learn more about the schemes and funds by reading the relevant product disclosure statement found on superlife.co.nz.

3. PIR

This shows the PIR we used to work out the tax on your investment income for each of your SuperLife schemes (except the SuperLife UK Pension scheme). Your PIR can be 0%, 10.5%, 17.5% or 28%. You don’t have to do anything if the PIR shown on the certificate is correct. You can work out your PIR here. For joint account holders, the higher PIR rate will be used to work out the tax on your investments.

4. Taxable income

This refers to how much of your investment income is taxable. PIEs have special tax treatments so not all the income earned from your PIE investments is taxable.

What is taxable depends on the type of assets held by your funds and schemes. Find out more here.

Your taxable income is reported less any expenses available for deduction.

5. Gross tax payable

This refers to how much tax you are paying on your investment income. The amount is worked out using this formula:

Gross tax payable = PIR x taxable income

The non-taxable part of your investment return, taxable investment return and the tax payable are shown on your regular member statements which are available online.

6. Tax credits

A tax credit reduces the amount of tax that you pay. For example, if the fund you are in earns income from overseas investments for which tax has been paid, a tax credit may be available.

7. Net tax paid

This figure is the total tax paid or total tax refunded to your account balance in a SuperLife scheme (except the SuperLife UK pension scheme).

Your tax has already been paid on the taxable investment income so no action is needed when you receive this certificate. However, if you gave us the incorrect PIR, you may need to complete a tax return.

8. Administration fees

The administration fee is $30 per year or $2.50 per month (if applicable) for KiwiSaver scheme members and $12 per year for the SuperLife Invest and SuperLife workplace savings scheme.