GRA Blogs

Articles by John Rowe

John Rowe

Kiwi Saver - Changes


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
© Gilligan Rowe & Associates LP

Did you like this article? Subscribe to our newsletter to receive tips, updates and useful information to help you protect your assets and grow your net worth. We're expert accountants providing expert advice to clients in NZ and around the world.

Disclaimer: This article is intended to provide only a summary of the issues associated with the topics covered. It does not purport to be comprehensive nor to provide specific advice. No person should act in reliance on any statement contained within this article without first obtaining specific professional advice. If you require any further information or advice on any matter covered within this article, please contact the author.
Testimonials
Hi John, Thanks for your email and the wonderful work done by your staff esp. in chasing us [me] down to get everything to you. You guys are legendary. - AL and SJ, March 2019
We can help
Here's how

Gilligan Rowe and Associates is a chartered accounting firm specialising in property, asset planning, legal structures, taxation and compliance.

We help new, small and medium property investors become long-term successful investors through our education programmes and property portfolio planning advice. With our deep knowledge and experience, we have assisted hundreds of clients build wealth through property investment.

Learn More
TOP