The KiwiSaver Tax Credit is the annual contribution of up to $260.72 which the Government provides to each KiwiSaver member who is eligible to receive it. The eligibility criteria is as follows:
- From 1st July 2025, you now receive $0.25 for every $1.00 that you personally contribute, up to a maximum of receiving $260.72 (i.e. you need to contribute at least $1,042.86 to receive the full Government contribution)
- If you’re aged 16 or 17, you now qualify for government contributions, so long as you meet other eligibility requirements. Therefore, you must be 16 or over but not yet 65 years old to qualify.
- If you earn more than $180,000 of taxable income in a year, you no longer qualify for the government contribution.
- Personal contributions include your employee contributions and any voluntary contributions you make. Any employer contributions or Government contributions do not count
- You must make your contributions within the KiwiSaver year, which is from 1st July to 30th June
- You must be a KiwiSaver member prior to the start of the KiwiSaver year to receive the maximum government contribution. If you became a KiwiSaver member during the KiwiSaver year, you are only entitled to a prorated contribution (i.e. if you joined on 1 October, or 3 months through the year, you would be eligible to receive approximately 75% of the Government contribution)