$521 Credited to your KiwiSaver account July each year by the NZ Government


Deadline to credit your account $1042.86 to get your Member Tax Credit

You are Eligible for Member Tax Credits

  • you need to contribute at least $1042.86/yr between 1 July and 30 June (this is the member tax credit year) been a member for a full year
  • if you’re eligible for only part of a year (just started KS) you’ll get part of the MTC. The calculation of the part MTC will be based on the number of days in the year you were eligible.
  • must be between 18 and 65
  • if you turn 18 during the tax year you will be eligible on the day you turn 18
  • NZ resident for the year (exceptions volunteers/govt employees)
  • you are an NZ resident if you’ve been in NZ more than 183 days in a year and have a permanent place of abode
  • must be contributing $87 a month or $1043/yr
  • If self employed – can voluntary contribute $87/mth $1043/ yr
  • Contribution of $1042.86 can be one lump sum

You are Not  Eligible for Member Tax Credits

  • while on contributions holiday you are not eligible
  • over 65 yrs old (note- you can still continue to contribute though not eligible for member tax credits)
  • If you are away from the country for more than 6 months (183 days) and do not have a permanent place of abode in NZ

How much Member Tax Credit will  I receive?

  • Full year kiwisaver member $521.43
  • Less than a year – member tax credit will be calculated from the 1ST Day of the month

So if you’ve joined Kiwisaver 6 months before 30 June you get around $260

  • For every $1 contribution you get 50cents in Member Tax Credits