Member tax credit

To help you save, the Government will match your contributions by up to $1,042.86 each year. This works out to about $20 a week.

Who gets the member tax credit

The member tax credit will be paid each year until you’re eligible to withdraw your savings, provided you’re 18 or over and your principal place of residence is in New Zealand.

To qualify for the member tax credit:

• you must be 18 or over, and
• your principal place of residence must be in New Zealand, except for:
  • a government employee who's serving outside New Zealand
  • a person who's working overseas:
    • as a volunteer, or for token payment, for a charitable organisation named in the Student Loan Act regulations, and
    • if the work meets one or more of the requirements set out in the Student Loan Schemes Act 1992.

Members of a complying fund are entitled to receive the member tax credit.

How much member tax credit you can get

To get the full member tax credit automatically you have to contribute at least $1,042.86 a year yourself. Employer contributions and government contributions do not count.

If you contribute less than $1,042.86 from your pay, you can make voluntary contributions to ensure you receive the full member tax credit payment from the Government.

Work out how much you'll receive at 4%

Work out how much you'll receive at 2%.

Joining part-way through a year

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

When you turn 18, you’ll receive a member tax credit for the portion of the year that you’re 18.

When member tax credit is paid

Your KiwiSaver provider will claim the tax credit on your behalf after 1 July each year. You don’t have to do anything. Your member tax credit will appear in your KiwiSaver account within a month of your provider making the claim.

Your member tax credit does not count as taxable income.