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Income Tax Act 2007

General collection rules - Employment-related taxes - Value of fringe benefits

RD 37: Contributions to superannuation schemes

You could also call this:

“How employer contributions to your superannuation scheme are valued”

When your employer contributes to a superannuation scheme for you, the value of this benefit is the amount your employer puts in. This means if your employer pays $100 into your superannuation scheme, the value of the benefit is $100.

If your employer is registered for GST and can claim input tax for their contribution to your superannuation scheme, the amount includes GST. So, if your employer contributes $115 (including GST), the whole $115 is counted as the value of the benefit, not just the amount before GST.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1520036.

Topics:
Money and consumer rights > Taxes
Money and consumer rights > Savings and retirement
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“Paying back loans from your job with your work income”

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RD 38: Contributions to funds, trusts, and insurance premiums, or

“Employer payments for employee benefits and insurance”

Part R General collection rules
Employment-related taxes: Value of fringe benefits

RD 37Contributions to superannuation schemes

  1. The value of a benefit that an employer provides in contributing to a superannuation scheme for an employee is the amount of the contribution made by the employer.

  2. In this section, for a registered person who may claim input tax for a contribution to a superannuation scheme, amount means the GST-inclusive amount.

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