Fisher Funds TWO KiwiSaver Scheme for Self Employed
If none of your income is subject to PAYE then you are considered self employed for KiwiSaver purposes. Self employed people deal directly with the scheme provider they choose – instead of going through Inland Revenue. It is probably the most flexible way of being a KiwiSaver member as you can decide how much you want to contribute and when.
By joining KiwiSaver you'll be able to take advantage of the following incentives:
|For every $1.00 you contribute the Government will contribute $0.50 up to a maximum of $521.43 per KiwiSaver year (equivalent of $10 per week) if you are over 18 and under the age when you normally qualify to withdraw your KiwiSaver account. This is known as the Member Tax Credit.|
|First home assistance programs (if eligible)|
One of the features of being self employed and a member of a KiwiSaver Scheme is that you don't have to contribute a fixed % of your income and you can contribute when and how much you like.
Many self employed people ensure they contribute at least $20/week (or $1,043 p.a.) to ensure they maximise the Government matching contributions (member tax credits). We will contact you each year to remind you to do this. Because the self-employed do not technically have an employer they are not eligible for the employer contribution.
If you are an employee at one workplace (despite being self-employed at another) then you are an employee for the purposes of the KiwiSaver Act. The minimum compulsory employee contribution is 3%.