If you invest in a PIE fund, tax is calculated when you sell a significant proportion of units in a fund and at the end of the financial year (31 March). We keep a record of how much tax needs to be paid (or returned to you) at all times.

Towards the end of a financial year, Kernel will email investors an estimate of their PIE tax position and any actions they can take to pay for tax payable.

We remit tax to the IRD on your behalf and prepare your PIE Tax certificate in April/May, which you will find in the 'Reports' section of your Kernel account. This document shows the amount of income, tax credits, tax paid and your PIR.