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Home / Business / Personal Finance / KiwiSaver

Time running out to claim KiwiSaver bonus

NZ Herald
26 Jun, 2016 09:53 PMQuick Read

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The tax credit is a bonus 50c from the Government for every dollar contributed, up to $1043. Photo / File

The tax credit is a bonus 50c from the Government for every dollar contributed, up to $1043. Photo / File

Time is running out to ensure you receive the $521 contribution to your KiwiSaver account from the Government.

The "KiwiSaver year" ends on June 30 and everyone who has contributed $1042 or more to their account in the last 12 months will receive the full $521 member tax credit from the Government.

The tax credit is a bonus 50c from the Government for every dollar contributed, up to $1043.

Everybody earning over $35,000 and contributing 3 per cent to KiwiSaver will meet the criteria for the full member tax credit.

But, if you're self-employed or earning below $35,000 it's possible to make a direct top-up to your KiwiSaver account to ensure you receive the full member tax credit before Thursday.

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KiwiSaver providers will claim the member tax credit for you after July 1 and it will appear on your balance about a month later.

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