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Don’t forget to grab what’s yours — $521!

Member Tax Credits

How to top-up your KiwiSaver account

By direct credit
Pay directly into the Scheme’s bank account (02 0506 0083982 00).

You can also search for “Fisher Funds TWO KiwiSaver Scheme” in the Bill Payee section of your internet banking website.

Please include your name and IRD number or member number.

By cheque
Make your cheque out to the Fisher Funds TWO KiwiSaver Scheme.

Post your cheque to:
Fisher Funds
C/- Trustees Executors
P O Box 409
Wellington 6140

Please include your member number as a reference.

Via Inland Revenue
Log into your internet banking and simply choose the 'Tax Payment' option. You will need to select the tax or payment type as 'KSS' and enter your IRD number.

What is a Member Tax Credit (MTC)?

For every $20 you save into your KiwiSaver account, the Government will contribute $10, up to a maximum of $521.43 each KiwiSaver year (1 July to 30 June). This is known as the member tax credit (MTC).

Who is eligible to receive a MTC?

To be eligible to receive a MTC:

bulletpoint tick you must be 18 or older;
bulletpoint tick you must not yet be eligible to withdraw for retirement; and
bulletpoint tick your principal place of residence must be New Zealand.

A few limited exceptions apply, find out more.

How much can I get?

To receive the full MTC amount of $521.43 from the Government, you need to save (at least) $1,042.86 into your KiwiSaver account before the end of the KiwiSaver year. Please note, employer and government contributions do not count towards your MTC entitlement.

If you can't afford to save the full amount, the Government will still contribute $10 to your KiwiSaver account for every $20 you save.

If you are employed and contribute less than $1,042.86 from your pay, you can make voluntary contributions into your KiwiSaver account to ensure you receive the full MTC payment from the Government.

How do I receive my MTC?

There is nothing you need to do. The Fisher Funds TWO KiwiSaver Scheme claims the MTC on your behalf following the end of each KiwiSaver year (30 June). The MTC is paid directly into your KiwiSaver account in July/August and will show as a separate item on your transaction statement.

We will contact you prior to the end of each KiwiSaver year if it appears you need to top up your account, to remind you to maximise the MTC.

Joining KiwiSaver or turning 18 part-way through a year

If you join part-way through a KiwiSaver year (1 July to 30 June), you'll receive a MTC for the portion of the year that you've been a member.

Similarly, if you turn 18 during the KiwiSaver year you'll receive a MTC for the portion of the year that you were 18.

The table below helps give you an idea of how much MTC you will be eligible for.

Month Joined / Turned 18 Days in Month Eligible Days Remaining in KiwiSaver Year Max MTC
Jan 31 181 $258.57
Feb 28 150 $214.29
Mar 31 122 $174.29
Apr 30 91 $130
May 31 61 $87.14
Jun 30 30 $42.86
Jul 31 365 $521.43
Aug 31 334 $477.15
Sep 30 303 $432.86
Oct 31 273 $390.00
Nov 30 242 $345.72
Dec 31 212 $302.86

Reaching retirement age part-way through a year

If you reach your KiwiSaver retirement age part-way through a KiwiSaver year (1 July to 30 June), you'll receive a MTC for the portion of the year before you reached your KiwiSaver retirement age.

The table below helps give you an idea of how much MTC you will be eligible for.

Month Reached Retirement Age Days in Month Eligible Days Remaining in KiwiSaver Year Max MTC
Jan 31 215 $307.14
Feb 28 243 $347.14
Mar 31 274 $394.43
Apr 30 304 $434.29
May 31 335 $478.57
Jun 30 365 $521.43
Jul 31 31 $44.29
Aug 31 62 $88.57
Sep 30 92 $131.43
Oct 31 123 $175.71
Nov 30 153 $218.57
Dec 31 184 $262.86

Learn more about the MTC and how it is calculated »

 

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