KiwiSaver is a voluntary, work-based savings initiative to help New Zealanders with their long-term saving for retirement.
It's designed to make it easy for people to get into the habit of saving regularly.
Effective from 1 April 2009, changes were made to the KiwiSaver Scheme. These changes are:
The Compulsory Employer Contribution maximum has changed from 4% to 2%. The maximum employee contribution rate has changed from 4% to 2% of the employees gross pay The Default employee contribution rate at sign up time is now 2% (previously 4%) The $40 annual subsidy fee ceases Voluntary employer contributions will be liable for employer superannuation contribution tax.
Please contact us if you would like help to understand how these changes affect you personally and your business - if applicable.
John Rowe
Director Business Accounting Services
Learn More about John 
Contact John at jr@gra.co.nz or call +64 9 522 7955
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