Introducing member tax credits
No such thing as a free lunch? Sit down and be amazed.
It's easy to get free money. And guess what? It's from the government...
Yes, that's right. The government contributes to your KiwiSaver account each year, as long as you put in some money yourself.
It's called 'member tax credit' or MTC so it doesn't sound like free money. But it is! Awesome, eh.
So how does member tax credit work? Who can get MTC? How much do you get? Right, so you need to contribute to your KiwiSaver account but how much exactly? Is there a deadline? How do you claim member tax credit? When do you get MTC?
Questions, questions – so many questions. What you need is an introduction to member tax credits.
And look, there's one right here! Master MTC with Booster.
So now you know how member tax credit works.
You know that the government contributes 50c for each $1 you put in, and you can get up to $521 a year.
You know that you need to put in $1,042 a year to get the full MTC of $521. And you know it's not all or nothing – that if you contribute less, you still get MTC for each dollar you pay into your KiwiSaver account. Sweet.
And you're on top of the who, what, when, where, why and how…
So now you're an instant expert on member tax credits. Well done, you.
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