Employer contributions to KiwiSaver were changed on 1st April 2012. Before this date, these contributions were tax free. From 1st April 2012 – taxation has been payable on the contributions. As an employer, it can be difficult to keep up to date with all the changes to the taxation regime, particularly if you don’t have…
ESCT – or Employer Superannuation Contribution With-holding Tax is the tax that employers must deduct from Employees contributions and pay to the IRD. Employer contributions to KiwiSaver were exempt from tax until 1st April 2012. (There were a few exceptions, but these generally applied to super schemes or salary sacrifice arrangements in place prior to…
At Moneyworks we are a small business (there are five of us). We concentrate on assisting our clients with their financial planning, KiwiSaver and insurance needs. We don’t have the time (or frankly the interest), to keep up with all the different changes to taxation and how it affects each employees. Yes, it is our…
It used to be that the only insurance cover that you could purchase was life insurance. You insured yourself, you died, the money got paid to your estate or beneficiaries. Things have changed. Now we earn (and spend) more and medical technology has advanced, people are living longer and surviving major illnesses and injuries. The…
This video was developed to help people think about their awareness of cyclists on the road. But it can get you thinking about your awareness in other areas. Both myself and Peter and active cyclists- but I don’t like cycling on the roads in New Zealand. Our annual holiday overseas for the last three years…
It is important to understand how your investments are performing. This doesn’t mean that you should be chasing performance – flitting between the best fund manager for the last period, or changing your investment risk profile to try and catch that great performance last year. What this means is that when you have worked out…
How KiwiSaver helped a widow get to India KiwiSaver is valuable at helping people to achieve a wide range of goals, saving for day to day expenditure in retirement, saving for the deposit on a first home, saving for a ‘treat’ or ‘trip’ in retirement. This is a story of a Moneyworks client, who joined…
No-one knows the exact cause of prostate cancer. Doctors can seldom explain why one man develops prostate cancer and others don’t. This excellent infographic provides more information on prostate cancer. This is something that every male, and every person who loves a male should read and know about. While you can’t ‘prevent’ prostate cancer,…
This series of four videos was produced by the New Zealand Herald at the end of 2012. We feel that they are a great introduction to KiwiSaver, answering lots of questions. If these questions raise unanswered questions for you at the end of the video, ask us, go to http://www.moneyworksdirect.co.nz/kiwisaver_question/ and Ask us a KiwiSaver…
With thanks to Sue, her family and Sovereign. Sue was self employed and unexpectedly diagnosed with breast cancer through a routine mammogram. As Sue says: “Insurance is a precautionary thing — because you never know what’s around the corner.” She says that the premiums were really quite minimal and that the insurance enabled her to…
With thanks to Brenda and SunLife Financial (Canada). This story is about Critical Illness Insurance – which is generically referred to as Trauma Insurance. Brenda said that after she put the cover in place she had forgotten about it. When she had a heart attack, the insurance paid out and enabled her to reduce the…
Many people understand, in a general way, that if they have been in a relationship for three years or more, that the property involved in that relationship is split 50/50 if the relationship ends. This also applies to entitlements to assets upon death. But, what if you inherited some property? What happens to that? What…