Originally Posted by
Snoopy
Errrm, could I suggest you have a cup of coffee and rewrite your post? I find it very difficult to understand what your position is. You have all your income coming from KFL(?), including 'part' (of what?).
Then you have excess tax credits (which means you don't have enough untaxed income to utilise them), but you also have a tax bill to pay (which suggests you are short of imputation credits(?) The facts you supply, as communicated, I would charitably describe as 'baffling'.
To comment on the general gist of your question, I think you are asking whereabouts in your tax return to declare your PIE income. Do you declare it as 'regular income' (IR3 Q14), or as part of the PIE income stream under IR3 question 36?
If the PIE tax rate saves you money (and it will if your regular incremental tax rate is more than 30%), then you should put it under question 36. But it looks like you are saying that if you put this income under IR3 question 14, it will reduce your tax bill to pay. I am not sure there is a 'right' answer to your question.
A1/ If you want to maximise your cashflow for this year, put the income in Q14 (that should reduce your coming provisional tax payment) BUT
A2/ If you ultimately want to minimise the tax you pay, then put the income in Q36.
HTH
SNOOPY