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allows, those with high-interest mortgages can use part of their KiwiSaver savings to pay back their mortgages (Withdrawn and only available to those signed up to mortgage diversion before 1 June 2009).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.
Read more about this topic: Kiwi Saver
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