Highlights from Holm Truths. Over the next few weeks, this column will run highlights from Mary Holm’s quarterly newsletter Holm Truths. Mary’s regular Q&A column will resume on October 27. STUFF AND HAPPINESS: A woman I know wasn’t sure what to do. Should she renovate her current house, or move to a cheaper suburb and buy a house that was already up to the minute? She preferred to stay put, but would have to borrow to renovate and wasn’t sure if she could afford to repay that debt.
Q&As: Join KiwiSaver even if you are already in another super scheme — but no double dipping!; Can an employee get around the 4 per cent minimum contribution to KiwiSaver?; Is KiwiSaver for government employees too good to be true?; Choosing between KiwiSaver and another work scheme.
Ins and Outs of KiwiSaver tax credit. Judging by readers’ questions, confusion reigns about the government’s KiwiSaver tax credits, which match members’ contributions up to $20 a week or $1042.86 a year. The tax credits are paid to every contributing KiwiSaver member 18 and over until they reach NZ Super age (currently 65) or five years after joining, whichever is later. For example, if you join at age 63, you will continue to get the credits until five years later, when you are 68.