What does the ‘KiwiSaver Retirement Projection’ on your KiwiSaver Statement mean?

If you are aged between 18 & 64, from this year, you will receive some more information on your annual KiwiSaver Statement.  This ‘Retirement Projection’ information is a legislative requirement, and is prescribed by the regulators. It is important to note that this...
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Lost’ Australian Super – first steps to change legislation so that this can be transferred to a New Zealand KiwiSaver (thanks to Chapman Tripp)

Australian ‘unclaimed super’ money gap to be plugged (10th June 2020 – Brief Counsel) The Taxation (Annual Rates for 2020/21, Feasibility Expenditure, and Remedial Matters) Bill, introduced to Parliament on 4 June 2020, includes amendments which would enable the direct...
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Changes to KiwiSaver this year

There have been a number of changes to KiwiSaver this year.  Some of these changes took effect on 1 April 2020: · All members aged 65 years or over can make a retirement withdrawal ·  KiwiSaver providers will be notified of prescribed investor rate (PIR) changes ...
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Things you may not know about KiwiSaver

1.    Get regular withdrawals from your KiwiSaver to fund your retirement spending When you reach the age of eligibility for New Zealand Superannuation (currently 65), you can access your KiwiSaver. You can withdraw a lump sum, but many of Moneyworks clients f...
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It really isn’t possible to ‘time’ the markets – investors with $1.4 billion in KiwiSaver funds learned this in March

When we meet with our Membership Fee clients on an annual basis, we consider the risk profile that their investments are invested in.  As your life changes, this may change.  We encourage our non Membership Fee clients to engage with us to discuss your risk profile...
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Coronavirus world, economic outlook and investments.

This is a newsletter that was sent out on Monday May 11th 2020, to Moneyworks Financial Planning and Investment Clients that we work with on an ongoing basis.  It has quite a lot of interesting information, so we thought we would share it with you this month.The fancy f...
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FIF/FDR Tax Regime on Overseas Investments.

If you are liable to this tax regime (Your adviser will have told you, and your tax report will have a section with calculations on it as shown below), it is IMPORTANT that you read this guidance. How does FIF/FDR and the exemption work? If you have less than $50,000 per per...
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PIE Tax

April 23, 2020

PIE Tax

Your KiwiSaver and some other investments may be liable to PIE Tax. A PIE is a Portfolio Investment Entity. PIE Tax calculations are quite complicated – the important thing that you need to know is that PIE tax is FULL AND FINAL. Your PIE tax rate is your PIR (Prescribed I...
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Tax Adjustments/Package available for indviduals and businesses under the Covid-19 Crisis Environment

The NZ Government has been using the tax system to provide assistance to people and businesses to deal with the Covid-19 Lockdown.  We have outlined the benefits announced to date below. There is a full summary of the initiatives in the file below as of 23/04/2020. To g...
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Questions about your KiwiSaver or Insurance cover?

Insurance policiesAll of the insurers that we work with and that our clients have insurance in place with (Life, Trauma, Income Protection/Mortgage Repayment and Health/Medical insurance) have confirmed to us that there are NO EXCLUSIONS for existing policies if you become u...
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