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Christmas Present Tips for Guys

Christmas Shopping Tips for Guys

giftgreen1Most of us guys are useless at Christmas shopping. Here's a few tips I've picked up over the years.

Ladies, you might want to share this with the men in your family to avoid getting an undesirable and badly wrapped present this Christmas.

  1. Buying your Christmas presents at a petrol station or dairy on Christmas morning really isn't the done thing - apparently not everyone wants a funnel, box of biscuits or a car care kit. Don't do it.
  2. Get started early, no not on Christmas Eve, yesterday was already too late.
  3. First thing in the morning is the best time to Christmas shop, and I mean first thing, teenagers are still in bed.
  4. It's not the thought that counts, it's how MUCH thought that counts.
  5. Cash is a GREAT present for teenagers - and me.
  6. If you must give gift vouchers make sure they are from a shop the recipient actually shops in and try and avoid those with an expiry date.
  7. Wrapping and cards are important, you and I know it's just paper but for some reason they are important.
  8. Before you start browsing in a shop check that it does gift wrapping and accept the service - wait if necessary. If the shop doesn't do gift wrapping move on to the next. Unless you are an expert present wrapper - Yeah Right!
  9. Even if every present you buy is gift wrapped, buy plenty of wrapping paper and sellotape. You are going to need it because dairy's and petrol stations don't gift wrap and being a bloke you'll probably ignore number 1.

Guys ignore the above at your peril and have a wonderful Christmas.

Posted in KiwiSaver.

Making the Most of KiwiSaver Government Contribution (GC)

Make sure you contribute at least $1,042 to your KiwiSaver account by June Year.

In July of each year the IRD makes a Government Contribution (GC) payment into the KiwiSaver accounts of contributing members living in New Zealand aged between 18 and the age at which the member is entitled to receive their benefit (i.e. the later of age 65 or after five years' KiwiSaver membership).

The Government Contribution was called Member Tax Credit until 2019.

In plain English: the government puts money into a KiwiSaver members personal KiwiSaver account, which is added to your retirement savings.

It works like this:

To claim the maximum GC of $521.43 a member will need to have made contributions of at least $1,042 into their account. Employer contributions and government contributions do not count towards GCs.

So the government will match half of your contributions with a tax credit to your KiwiSaver account, up to a maximum of $521.43 each year (under current rules).

If a member joins KiwiSaver part way through a year or turns 18 during the course of the year, their GC entitlement is pro-rated accordingly. Similarly, anyone turning 65 during the course of a year is only entitled to GC credits for the period they were aged under 65 (unless they have been in KiwiSaver for less than five years in which case they are entitled to receive GC's for the full five year period).

Those contributing less than the required $1,042.86 have the option of making voluntary contributions before the end of the scheme year to ensure they maximise their GC entitlement. For these voluntary contributions to have the desired effect they must be processed by mid-June (to ensure they are in the member's account by the end of the month).

KiwiSaver Logobayfinancialpartners.co.nz is operated by Bay Financial Partners Limited  and is not endorsed by, or affiliated with, the government or Inland Revenue. Bay Financial Partners Limited is using the KiwiSaver trade mark and logo under licence from Inland Revenue. To view the official New Zealand government KiwiSaver website, please click here.

KiwiSaver, Tax

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