POSTED BY admin ON THE November 7th, 2019
If an employee is a KiwiSaver member making contributions from their pay, employers must also make a contribution every time they pay their employee salary or wages. These compulsory employer contributions (CEC) are at a minimum rate of 3% of the employee’s gross salary or wages. CEC is not compulsory if the employee is under […]
POSTED BY admin ON THE October 9th, 2019
At the end of July this year, KiwiSaver announced that savings accessibility will be changed for people with shortened life expectancies due to congenital health conditions. Under previous rules, savings could not be accessed before the age of 65, however people with life-shortening congenital conditions can have a life-expectancy below this age. As a result, […]
POSTED BY admin ON THE September 10th, 2019
The Taxation (KiwiSaver, Student Loans, and Remedial Matters) Bill contains proposals to simplify and modernise the administration of KiwiSaver. The Bill proposes a number of changes to improve the administration of the KiwiSaver scheme, facilitating faster transfers of funds, improving the administrative efficiency and enhance members’ experience with the scheme. The implementation of a new […]
POSTED BY admin ON THE August 12th, 2019
You may be entitled to the KiwiSaver HomeStart Grant after you have been contributing to your KiwiSaver for three years. The Grant is administered by Housing New Zealand which operates outside of KiwiSaver and will be paid to your solicitor. What are the grants?There are two HomeStart Grants. These are: For purchasing an existing home, […]
POSTED BY admin ON THE July 15th, 2019
KiwiSaver is New Zealand’s approach to a taxpayer-subsidised, personal retirement savings regime. Under the scheme, employers make payroll deductions for each employee through the Pay As You Earn (PAYE) tax system. Employees are required to save these to a KiwiSaver account. Here are some of the key features of KiwiSaver that employers and employees should […]
POSTED BY admin ON THE June 18th, 2019
Inland Revenue has identified that 450,000 people have been paying the wrong rate of tax on their KiwiSaver accounts and other managed funds. This highlights the importance of understanding what rate of tax you should be paying on your KiwiSaver, and to check that you are paying the correct amount. The implementation of a new […]
POSTED BY admin ON THE May 20th, 2019
To help you add savings into your KiwiSaver account, the Government will make an annual contribution of up to $521 to all contributing members over the age of 18. Over a KiwiSaver member’s working life, the government contribution could be worth as much as $36,000. Check your eligibility:The Government contribution stops when a member reaches […]
POSTED BY admin ON THE March 8th, 2019
Retirement is a big commitment and even more so for those who are self-employed or run their own business. All the factors that go into the decision to retire are magnified with a business to consider. Selling or closing are not the only paths if you choose to move on, this is why succession planning […]
POSTED BY admin ON THE February 7th, 2019
A KiwiSaver account is a great resource for compiling and saving for your retirement and future security. It is a voluntary, government-run initiative designed to help you financially plan ahead, but what exactly are the benefits? Here are a few ways having a KiwiSaver account would aid you throughout your life. Member Tax Credit:This credit […]
POSTED BY admin ON THE November 26th, 2018
KiwiSaver members who go overseas for an extended period will not receive all the benefits their accounts usually give them. Find out what you are entitled to when you go away so you can make the right financial moves. Contributions while you are awayYour contributions will automatically stop once you cease work in New Zealand […]
