Everyone knows about their annual entitlement to free money, right? Well… Apparently not.
According to a study done in August 2017, there was $300,000,000 in unclaimed KiwiSaver Member Tax Credits. That’s THREE HUNDRED MILLION dollars of taxpayer money.
Ok. So just in case you’re one of the one million plus Kiwis who don’t know what I’m on about, the Member Tax Credit is the free $521 Government Contribution to that is deposited to your KiwiSaver fund, provided that you’ve contributed at least $1,043.
And this doesn’t just apply to this year, people. You can get this free money EVERY YEAR, provided you keep contributing the required amount. Oh, and you have to reside in NZ, and be over 18, but that’s pretty much a given, huh… I’m sure not getting any younger at least.
Simply put, “It’s the best-known return anyone is going to get on their savings.” (David Boyle – General Manager for the Commission for Financial Capability)
So, are you sure you qualify for your free money?? If you’re not sure but you want to be, give your INNVOEST adviser a buzz pronto and we’ll see you right.
Remember qualifying ends June 30.
$521. Free. Don’t say we never do anything for you 😉