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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 ...
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 ...
Reserve Bank of New Zealand (Economic Objective) Amendment Act 2023 2023/64: 19 December 2023 Fair Pay Agreements Act Repeal Act 2023 2023/65: 19 December 2023 Land Transport (Clean Vehicle Discount Scheme Repeal) Amendment Act 2023: 2023/66: 19 December 2023 Secondary Legislation Confirmation Act 2023 2023/67: 22 December 2023
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.
2023 half-year ›. Budget 2023, titled " Support for today, Building for tomorrow ", is the New Zealand budget for fiscal year 2023/24 presented to the House of Representatives by Finance Minister, Grant Robertson, on 18 May 2023 as the fifth budget presented by the Sixth Labour Government. The budget was released in the midst of rising living ...
In FY 2014, New Zealand's investment income from the rest of the world was NZ$7 billion, versus outgoings of NZ$16.3 billion, a deficit of NZ$9.3 billion. [108] The proportion of the current-account deficit that is attributable to the investment income imbalance (a net outflow to the Australian-owned banking sector) grew from one third in 1997 ...
The Sixth Labour Government governed New Zealand from 26 October 2017 to 27 November 2023. It was headed first by Jacinda Ardern (October 2017–January 2023) and later by Chris Hipkins (January 2023–November 2023), as Labour Party leader and prime minister. On 1 August 2017, Ardern succeeded Andrew Little as both leader of the Labour Party ...
In 2017, while Chief Executive of the New Zealand Superannuation Fund, the size of his salary (almost $1 million) and his annual pay increase of 36 per cent caused controversy. [ 1 ] [ 7 ] Prime Minister Bill English and the State Services Commission objected to the increase, and English said the NZ Super Fund Board members who had approved the ...
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