MTC is a great sweetener for KiwiSaver scheme members. As long as you have saved $1,042.86 by June 30th each year, you receive a full tax credit of $521.43. For a number of reasons, you may not have hit this target but it isn’t too late. If you haven’t saved this amount during the year, you can still make one off payments to maximise the tax credits. You can either send a cheque or pay IRD directly or go via your KiwiSaver provider.
If you want to talk about your KiwiSaver or do not know who it is with, do not hesitate to call the WealthDesign office. We have the latest Morningstar research on all the KiwiSaver funds so you can see if your fund is right for you.
John Barber