Monday, 14 December 2009 18:14
administrator
The theindependentkiwisaver.co.nz web site concept maps have been updated with the recent government change to the mortgage diversion facility which came into force on the 1st of June 2009.
This option is now closed to new applications HOWEVER folks who were already using this facility are able to continue to use it...
Apparently very few people were using this and, closing this just simplifies things really...
On another note, are people finding this website useful? If you do I'd love to hear from you. Just a few emails of support will be enough for me to continue to host this website...so please drop me a line!
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Tuesday, 19 May 2009 17:27
administrator
Check this out - "Global fund assessor Morningstar says the New Zealand funds management industry is the worst performer in a study it did of 16 countries".... click here for more.
One of the few reasons my DIY approach is better!
Saturday, 09 May 2009 12:35
Graham
The theindependentkiwisaver.co.nz web site has been updated with the recent government changes which came into force from the 1st of April 2009.
The key aspects of these changes are:
- the minimum employee contribution rate is reduced from 4% to 2% of your gross pay
- your employer's contribution is capped at 2% of your gross pay
- the annual $40 government fee subsidy is now no longer available
Note:
- If you want to reduce the minimum payment then you must advise your employer.
- Most importantly if you are earning less than $52,150 and choose to contribute 2% then your total contribution will not reach $1,042 which is required to receive the maximum member tax credit of $1,042 from the government. So make sure you make a manual topup so your contribution reaches $1,042.
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Monday, 12 January 2009 14:43
Graham
Did you know that you can actually view the contributions to your KiwiSaver scheme online? The IRD provide the service and it's accessible here. You can view transactions such as your employers contributions as well as the government freebies such as the kick-start.
You can also use this to request a contributions holiday (once you have been on the scheme for a year).
To signup, all you have to do is fill in a few details and then phone the IRD to activate your account. Easy!
Wednesday, 10 December 2008 07:57
Graham
The government have introduced law changes into parliament that will make some changes to KiwiSaver:
- The minimum contribution will now be 2% (this will be the new default for all new schemes)
- The $40 / year fee subsidy is now gone
- The government subsidy to employers is now gone (compensated by the fact that their minimum contribution is reduced down to 2%)
- A minor change to the way the 'tax credit' works - it's no longer capped. Simply, you get matched by up to $20 per week irrespective of your income
These changes come into effect 1 April 2009.
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The Independent Kiwi Saver Blog
