Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Tax credits paid in cash - Tax credits for KiwiSaver schemes and complying superannuation funds

MK 3: Payment of tax credits

You could also call this:

"Getting a tax credit when you put money into KiwiSaver"

Illustration for Income Tax Act 2007

When you make a member credit contribution to a KiwiSaver scheme or a complying superannuation fund, and the fund provider files a claim form under section 68C(3) or (4) of the Tax Administration Act 1994, the Commissioner will pay a tax credit. The Commissioner must pay the tax credit within 30 working days of being satisfied that you meet the requirements in section MK 2(1)(cc). The amount of the tax credit is calculated under section MK 4.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1518604.

This page was last updated on — View changes

Topics:
Money and consumer rights > Savings and retirementMoney and consumer rights > Taxes
Previous

MK 2B: Taxable income, or

"What is your taxable income?"

Next

MK 4: Amount of tax credit, or

"How much tax credit you get for saving with KiwiSaver"

Part MTax credits paid in cash
Tax credits for KiwiSaver schemes and complying superannuation funds

MK 3Payment of tax credits

  1. This section applies—

  2. when a member credit contribution is made to a KiwiSaver scheme or a complying superannuation fund by a person; and
    1. the fund provider of the scheme or fund files a claim form under section 68C(3) or (4) of the Tax Administration Act 1994 for the person.

      1. Within 30 working days of the Commissioner being satisfied that the person meets the requirement in section MK 2(1)(cc), the Commissioner must pay a tax credit to the fund provider of the scheme or fund to which the person has contributed. The amount of the tax credit is calculated under section MK 4. Subsection (5) overrides this subsection.

      2. The Commissioner must pay the full amount of the tax credit by direct credit to the fund provider without subtracting any amount that the person or fund provider may be obliged to pay to the Commissioner. Subsection (5) overrides this subsection.

      3. Repealed

      4. Despite subsections (2) and (3), the Commissioner may pay the amount of the tax credit as follows:

      5. to the person, if it would be impossible or impractical to pay it to the person's fund provider because either the person has no fund provider, or because the person has died or has suffered a serious illness as defined in schedule 1, clause 12(3) of the KiwiSaver Act 2006; or
        1. to a fund provider (provider B) other than the fund provider referred to in subsections (2) and (3), if the person is transferring or has transferred to provider B.

          Compare
          • 2004 No 35 ss KJ 1, KJ 4, OB 1 member credit contributions
          Notes
          • Section MK 3(1) heading: substituted, on , by section 128(1) of the Taxation (KiwiSaver) Act 2007 (2007 No 110).
          • Section MK 3(1): replaced, on , by section 12(1) (and see section 12(5) for application) of the Taxation (Budget Measures) Act 2025 (2025 No 26).
          • Section MK 3(2): amended, on , by section 12(2) (and see section 12(5) for application) of the Taxation (Budget Measures) Act 2025 (2025 No 26).
          • Section MK 3(2): amended, on , by section 128(2) of the Taxation (KiwiSaver) Act 2007 (2007 No 110).
          • Section MK 3(3): amended, on , by section 128(3) of the Taxation (KiwiSaver) Act 2007 (2007 No 110).
          • Section MK 3(4) heading: repealed, on , pursuant to section 12(3) (and see section 12(5) for application) of the Taxation (Budget Measures) Act 2025 (2025 No 26).
          • Section MK 3(4): repealed, on , by section 12(3) (and see section 12(5) for application) of the Taxation (Budget Measures) Act 2025 (2025 No 26).
          • Section MK 3(5) heading: added, on , by section 128(4) of the Taxation (KiwiSaver) Act 2007 (2007 No 110).
          • Section MK 3(5): added, on , by section 128(4) of the Taxation (KiwiSaver) Act 2007 (2007 No 110).
          • Section MK 3(5)(b): amended, on , by section 111 of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63).
          • Section MK 3 list of defined terms employer contribution: repealed, on , by section 12(4)(b) (and see section 12(5) for application) of the Taxation (Budget Measures) Act 2025 (2025 No 26).
          • Section MK 3 list of defined terms employer’s superannuation contribution: repealed, on , by section 12(4)(b) (and see section 12(5) for application) of the Taxation (Budget Measures) Act 2025 (2025 No 26).
          • Section MK 3 list of defined terms member credit contribution: inserted, on , by section 128(5)(a) of the Taxation (KiwiSaver) Act 2007 (2007 No 110).
          • Section MK 3 list of defined terms superannuation contribution: repealed, on , by section 128(5)(b) of the Taxation (KiwiSaver) Act 2007 (2007 No 110).
          • Section MK 3 list of defined terms trustee: repealed, on , by section 12(4)(b) (and see section 12(5) for application) of the Taxation (Budget Measures) Act 2025 (2025 No 26).
          • Section MK 3 list of defined terms working day: inserted, on , by section 12(4)(a) (and see section 12(5) for application) of the Taxation (Budget Measures) Act 2025 (2025 No 26).