Quick guide to joining KiwiSaver when you are self-employed with New Zealand-wide accounting specialists Tutbury & Associates Limited.

KiwiSaver is not just for employees, if you are self-employed you are also eligible to join Kiwisaver says New Zealand’s premier accounting professionals Tauranga-based Tutbury & Associates.

“KiwiSaver has flexible retirement savings options for people who are self-employed,” says Kelly Tutbury, Accountant and Managing Director at Tutbury & Associates Limited.

KiwiSaver benefits include the annual Government contribution which is also known as a member tax credit and the KiwiSaver first-home withdrawal which can help you buy your first home. So it is well worth signing up for if you are self-employed.

To collect the full-year contribution from the government, you’ll need to contribute at the minimum of $1,042.86 between 1 July and 30 June each year and meet the eligibility criteria.

You can get the annual Government contribution from the age of 18 up until you’re eligible to make a KiwiSaver retirement withdrawal as long as you reside mainly in New Zealand. The government will contribute 50c to every dollar you put in up to a maximum of $521.43 each year to your KiwiSaver account.

If you’ve been making frequent payments to your KiwiSaver account, you may be entitled to the Kiwisaver HomeStart grant through Housing New Zealand.

“If you’ve previously owned a home you may still be qualified for the first home withdrawal and the HomeStart grant if Housing New Zealand decides you’re in the same financial situation as a first-time buyer,” comments Kelly.

You’ll need to choose a scheme provider and apply directly to them. The scheme provider will notify Inland Revenue that you’ve joined KiwiSaver.

There’s a wide range of schemes and investment funds you can choose from. “Make sure you do your research before you choose a scheme to find out how they’ll invest your money,” advises Kelly.

For help in making your decision, you can go to www.sorted.org.nz. This is the Commission for Financial Capability’s website and it provides free, independent information about money matters, including KiwiSaver.

For more information about KiwiSaver go to www.kiwisaver.govt.nz

About Tutbury & Associates Limited:

Though they are centrally located in Tauranga, Tutbury & Associates Limited are cloud-based. Ideal for trades people, or anyone who wants to grow their business, Tutbury & Associates Limited offers expert services in compilation, financial planning, taxation, business accounting, family trusts and Xero bundles for their clients across New Zealand.

Contact Tutbury & Associates Limited:

Phone: 07 576 2194

Email: admin@tutburyassociates.co.nz

Address:  23 Myres Street Tauranga

Website: http://tutburyassociates.co.nz

Facebook: https://www.facebook.com/tutburyassociates/

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