Reminder: KiwiSaver Member Tax Credit Deadline – 30 June 2017

kiwisaver-main-logoTo receive the full KiwiSaver member tax credit of $521.43 for the 2017 year, KiwiSaver members must ensure that they have contributed at least $1,043 for the year ended 30 June 2017.

The KiwiSaver member tax credit is the government’s contribution to KiwiSaver accounts. The maximum credit available from the government is $521.43.

In order to receive the full tax credit amount of $521.43 it is necessary to have been a KiwiSaver member for the full year 1 July 2016 – 30 June 2017, and to have contributed at least $1,043 to your KiwiSaver scheme. Employer contributions do not count towards eligibility for this credit.

Voluntary contributions can be made up to 30 June 2017 to ensure that total contributions of $1,043 have been made so that the full member tax credit of $521.43 is received.

If you joined KiwiSaver part-way through the year (1 July 2016 to 30 June 2017), the member tax credit is based on the number of days in the year you’ve been a member.

Eligibility to receive the member tax credit ceases when you turn 65 years old, unless you joined KiwiSaver within 5 years of turning 65 in which case it ceases after you have been a member for five years.

2017-12-20T12:45:05+00:00May 16th, 2017|ACC and Kiwisaver|

Facebook

Twitter

LinkedId