The minimum employee contribution rate is reduced from 4% to 2% of gross salary or wages. Download our EzyBrief paper on it here – Kiwsaver Changes April 1st 2009 The default rate for new members joining after 1 April 2009 will be 2%, but existing members will retain their current contribution rate unless they elect […]
Month: April 2009
Independent Earners Tax Credit (IETC)
From the 1 April 2009 the independent earner tax credit (IETC) will provide tax relief to middle-income New Zealanders who don’t receive core assistance from the government. IETC is a tax credit for individuals who earn between $24,000 and $48,000 and don’t receive: working for families tax credits, an income-tested benefit, NZ super or a […]
Minimum Wage Rates
The minimum wage increases from $12.00 per hour to $12.50 per hour from April 1st, 2009 and the minimum training and new entrants rate increases form $9.60 per hour to $10.00 per hour. The new entrants rate applies to those who are 16 and 17 years old. It applies until such time as the employee […]