From the Inland Revenue Corner…

Removal of Tax Credits Three tax credits have been repealed effective from the 2013 income year. These are: tax credits for income under $9,880, childcare rebates and housekeeper rebates. Taxpayers will still be able to make claims for the above for the 2012 tax year and previous years. Student loan voluntary repayment bonus removed Effective…

Kiwisaver Changes

The minimum contribution rate for employers and employees will increase from two per cent to three per cent of gross salary or wages from the first pay period commencing on or after 1 April 2013. Employers will need to change the contribution rates for existing KiwiSaver members if the employee’s contribution rate is two per…