Maximising Returns
There are several strategies that can be employed to maximise returns from the KiwiSaver scheme. These strategies depend on individual circumstances.
- If their provider allows, those with high-interest mortgages can use part of their KiwiSaver savings to pay back their mortgages (Withdrawn and only available to those signed up to mortgage diversion before 1 June 2009).
- Taking a contribution holiday to avoid paying 2% of one's salary, but continuing to pay $10 a week to get the matching government tax credit.
- Business owners may find it advantageous to pay themselves (and family members) a salary in order to get $520 worth of tax credits.
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Famous quotes containing the word returns:
“Only passions, and great passions, can raise the soul to great things. Without them there is no sublimity, either in morals or in creativity. Art returns to infancy, and virtue becomes small- minded.”
—Denis Diderot (1713–1784)