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Member tax credits

The government contributes to your KiwiSaver account through member tax credits (MTC) each year, if you meet certain conditions.

What are member tax credits?

From 1 July 2011, the government pays 50 cents for every dollar you contribute to your KiwiSaver account each year, up to $521.43.

This means that you must contribute $1,042.86 annually to get the full member tax credit (MTC) payment of $521.43.

Your MTC are not counted for tax purposes.

Who can get MTC?

To qualify for member tax credits (MTC), you must be:

  • aged 18 or over
  • living in New Zealand
  • not yet eligible for a retirement withdrawal, currently reaching the age of 65.

Even if you don’t live in New Zealand, you may still qualify if you're in certain groups. You must be:

Get your member tax credits

To receive your full member tax credit (MTC) entitlement of $521.43, you need to contribute at least $1,042.86 to your KiwiSaver account each year. The MTC year runs from 1 July to 30 June.

Even if you don't contribute $1,042.86 over the year, you can get some MTC – as long as you pay in some money before 30 June.

Top up to get your MTC

Use direct debit to make a one-off or repeat payments into your Booster KiwiSaver account. It's one of the quickest ways to contribute any extra money you need to get member tax credits (MTC).

You can set up a direct debit payment using the direct debit tool in your online Booster account.

Or you can use online banking. Most banks already have our details set up so you can use the bill payment service in your internet banking.

Follow the same process as setting up a bill payment for a utility bill, such as a phone bill. You don’t need to enter our bank account number.

What counts towards your MTC

Only employee or voluntary contributions count towards your member tax credit (MTC) entitlement.

Other types of contributions don't count. These are:

  • employer contributions
  • government contributions – MTC
  • transfers from Australian complying superannuation schemes.

Note that you'll be entitled to lower MTC than the full amount of $1,042.86 if one or more of the following is true. If you:

  • joined KiwiSaver part-way through the year
  • qualified for MTCs for only part of the year
  • contributed less than $1,042.86 during the year.

This is because your MTC entitlement is based on the number of days in the year that you are eligible.

Check if you've qualified already

You may already qualify for the full member tax credit (MTC) if your annual salary is either:

  • $34,762 or more and you make employee contributions of at least 3%
  • $26,072 or more and you make employee contributions of at least 4%.

You may need to make voluntary contributions to make sure you get all the MTC you can if you're:

  • not contributing at least this much for the full MTC year
  • self-employed
  • not in paid employment.

To make sure you contribute enough to get the full MTC each year, you can set up a direct debit to make regular payments into your Booster KiwiSaver Scheme account.

Check your MTC status

You can check your member tax credit (MTC) entitlement by logging into your online member account and going to ‘My MTC’.

There you’ll be able to see our estimate of:

  • the amount of MTC you qualify for
  • how close you are to achieving it, based on the contributions we’ve received from you to date.

Our records

Please remember that our records may not include:

  • contributions that Inland Revenue haven't sent to us yet
  • future voluntary contributions you may have set up
  • any amount you’ve transferred from another KiwiSaver scheme provider.

You should bear this in mind when making any top-up payment.

If you’ve never logged into your online account before, it’s easy to register for online access

When you get MTC

We claim member tax credits (MTC) from Inland Revenue on your behalf in early July each year.

We usually get MTC payments from Inland Revenue and apply them to your account by mid- to late-July.

$1,000 kick-start

If you joined KiwiSaver before 2pm, Thursday 21 May 2015, you were entitled to receive the $1,000 kick-start. This was a one-off government contribution to your KiwiSaver account.

The 2015 Budget removed this so anyone enrolling in KiwiSaver on or after 2pm, 21 May 2015 no longer gets the kick-start payment.