I wanted to make you aware of Member Tax Credits for KiwiSaver that you are able to claim.
There were just under 580,000 eligible KiwiSaver members who received no contribution from the Government in their accounts in the 2016 financial year. That’s up from 573,000 the year before, 517,000 a year earlier and 466,000 in the 2012/2013 year. – Why let the Government keep money that is entitled to you!!
The Government contribution to your KiwiSaver savings is worth up to a maximum of $521.43 – but to get the full amount, you need to have contributed at least $1042.86 by 30 June 2017.
The Government pays 50 cents for every $1 you contribute, the maximum will be $521.43, so therefore you need to contribute $1042.86 to maximise the tax credit
If you are 18 or over, working, self-employed or not working, you can get these tax credits as long as you contribute $1,042.86 for the year.
You can check your KiwiSaver contributions online with most providers and see if you have contributed at least $1,042.86.
You DO NOT have to contribute if you do not wish to or you can contribute what is affordable in order to get at least some of the $521. (So for example if you contributed $500 you would receive $250 tax credit).
We can show you ways to make this easier over the course of the year and plan it so that you are maximising the benefits of KiwiSaver.
If you have any questions, then please feel free to contact me on 09 551 3500 or email info@insurenz.co.nz.