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The New Zealand Superannuation Fund (Māori: Te Kaitiaki Tahua Penihana Kaumātua o Aotearoa) is a sovereign wealth fund in New Zealand.New Zealand currently provides universal superannuation for people over 65 years of age and the purpose of the Fund is to partially pre-fund the future cost of the New Zealand Superannuation pension, which is expected to increase as a result of New Zealand's ...
These are collected by a range of government agencies such as the New Zealand Customs Service. There is no social security (payroll) tax. New Zealand went through a major program of tax reform in the 1980s. The top marginal rate of income tax was reduced from 66% to 33% (changed to 39% in April 2000, 38% in April 2009, 33% on 1 October 2010 and ...
The government taxes New Zealand Superannuation at a rate which depends on recipients' other income. [20] The amount of superannuation paid depends on the person's household situation. For a married couple the net of tax amount is set by legislation to be no less than 65% of the net average wage, although the Fifth Labour Government increased ...
In mid-December 2021, the Auditor-General released a report criticising the Ministry for paying more than NZ$37 million in inflated rents between November 2017 and June 2020 to private landlords and property managers to provide emergency housing for homeless people.
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The KiwiSaver scheme logo. KiwiSaver is a New Zealand savings scheme which has been operating since 2 July 2007. Participants can normally access their KiwiSaver funds only after the age of 65, but can withdraw them earlier in certain limited circumstances, for example if undergoing significant financial hardship or to use a deposit for a first home.
The 2014 federal budget deferred the proposed 2018 SG rate increases by 3 years, with the 9.5% rate remaining until 30 June 2021, and is set to have five annual increases, where the SG rate will increase to 12% by July 2025. However, there have been lobbying that suggests that the SG rate should remain at the current rate of 9.5% or make ...
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