A Member Tax Credit is a Government contribution to your KiwiSaver account.
Despite its name, it has nothing to do with your tax return. You don’t need to file a return to receive it. In fact, with the Summer KiwiSaver scheme we take care of all of the detail for you.
Generally, to be eligible for a Member Tax Credit you must be over 18 years of age, have made personal contributions to KiwiSaver, and be a New Zealand resident.
For every dollar you put in between 1 July and 30 June, the Government pays an extra 50 cents to your KiwiSaver savings, to a maximum of $521.43. If you are not in KiwiSaver for the full year, or have contributed less than $1042.86, this Member Tax Credit is adjusted on a pro-rata basis (based on the number of days in the year you’ve been a member and your contributions).
Each July, we submit a claim on your behalf and arrange for this to be automatically credited to your account. If you are concerned you have not contributed enough to access the maximum Member Tax Credit, please get in touch and we can advise the value of your contributions for the current year.