An important feature of KiwiSaver is the ability to withdraw your contributions from KiwiSaver to purchase a first home. Another valuable feature is the ability for some people to receive a First Home Buyers Subsidy from Housing New Zealand. There are a number of rules around this Subsidy, but if you are eligible, it is…
Since the second half of 2007 in New Zealand and then for the rest of the world in 2008, our economies, investment markets and the general environment has been through a tough time. At times it was hard to laugh. But thanks to John Clarke (of Fred Dagg fame), spend 2 1/2 minutes laughing at…
Well – its’ finally here. With a few hiccups… But you should now be able to start the process to bring your Australian Superannuation funds back to New Zealand and add them to your KiwiSaver funds. In Australia, if you have worked there as an employee in the last 20+ years, you were required to…
In previous newsletters, we have advised you that the way that your house insurance works is changing this year. There has been some publicity about this in the media and in the newspapers. We have given mentioned that you need to be aware of the changes and make sure that you review the ‘value’ of…
The only real ‘free money’ is the Kickstart from the Government. The other free money is a reward for contributing to KiwiSaver, an investment return, for purchasing your first home, and part of your remuneration from your employer. But, if you belong and contribute to KiwiSaver, you get all this extra money, over and above…
YES. If you’re under 18 and enrolled in a KiwiSaver scheme. As part of the Government 2012 Budget, the tax credit for children was repealed from 1 April 2012 and the entitlement to claim it was withdrawn in May 2012. This tax credit covered the tax on your first $2,340 of income from employment, so…
The survey, by AC Nielson, says that 1 in 4 New Zealanders are more likely to take out income protection cover now than they were before the Christchurch earthquakes took place. Of the 700 New Zealanders surveyed, 25% said they are now more likely to take out insurance to protect their income following the earthquakes.…
Not all insurance policies are made equal. There is a wide range of conditions that different insurers cover, and there is a huge variation on WHEN the insurance policy will pay out. This is particularly so for Cancer definitions on Trauma insurance policies. Claims and payments for Cancer are the leading payment on Trauma insurance…
The legislation to enable the transfer of superannuation savings between Australia and New Zealand has finally been passed in the Australian Parliament. As a result, from 1st July 2013 there will be ‘portability’ of superannuation between Australia and New Zealand. The Bill outlines the taxation implications of transfers to Australia from New Zealand, which we…
With thanks to Ray, his family and Sovereign, this excellent short video shows how insurance cover works. Ray was a Dentist in Dunedin, very active, running long distances, when he was diagnosed with Motor Neuron Disease. Although he had always seen his Life Insurance and Income Protection Insurance as a ‘necessary evil’ they made a…
According to the FMA report to 30 June 2012, there were 34,720 between investment funds in the previous year. Of these changes, $41 million was taken out of ‘Growth’ (higher risk) investment funds and $36 million was added to ‘Conservative’ funds. $6.8 million was moved out of the ‘default’ scheme option. It is important that…