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Member Tax Credit

Don’t miss the boat on your $521.43!

Did you know that for every dollar you put into your KiwiSaver account, the Government puts in 50 cents - up to $521.43 each year? It's officially called a Member Tax Credit (MTC) and it's paid into your AMP KiwiSaver Scheme account in late July or early August.

How Member Tax Credits work

You have until 27 June to claim your MTC of up to $521.43 for your AMP KiwiSaver Scheme account. To receive the full amount, you need to have contributed at least $1,042.86 into your KiwiSaver between 1 July of the previous year and 30 June of the current year, and have been a member for the full year. Otherwise you'll only get a portion equal to your part year membership. If you haven't contributed this amount, you can choose to top up your balance before 27 June to allow for processing time.

If your contributions come out of your salary, you can view them by logging into 'My KiwiSaver' at kiwisaver.govt.nz. All you'll need is your IRD number. If you make contributions directly to AMP, login or register for My AMP or download the My AMP app.

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Contributing regularly makes all the difference

The graph1 indicates the compounding effect of your personal contributions and MTC if joined at age 18 and remained an eligible member of KiwiSaver until 65. Over a lifetime it can amount to more than $24,507.21 of MTC for your retirement.

How to top up your AMP KiwiSaver Scheme account

  1. Online payment to IRD.
    Log into your internet banking and choose ‘Tax Payment’. Then select ‘KiwiSaver member account (KSS)’ as the tax or payment type. You will need your IRD number.
  2. Online banking payment to AMP.
    Log into your internet banking and select ‘AMP KiwiSaver Scheme’ under bill payments. Then enter your surname, IRD number and member number.
  3. Pay by cheque to IRD.
    Mail a cheque with the completed contribution slip to
    Inland Revenue, PO Box 39050, Wellington Mail Centre, Lower Hutt 5045.

Please note, it may take until late July or August for top-ups to appear in your AMP KiwiSaver Scheme account. You can log into 'My KiwiSaver' at kiwisaver.govt.nz to see that your MTC has been credited to your KiwiSaver account. Alternatively, log into My AMP , where you can view your MTC and your AMP KiwiSaver Scheme savings online 24/7.

Frequently asked questions

  • Contributions via salary, wages or payments direct via IRD
    The best way to check the total contributions you've made so far for the year starting 1 July is by visiting kiwisaver.govt.nz and by clicking ‘My Kiwisaver’ in the top right hand cover. Here you can view all the money deducted from your salary (if any) for your KiwiSaver account and paid via Inland Revenue.

    It's easy to login or register for the first. All you'll need is your IRD number

    It's important to use kiwisaver.govt.nz if you are an employee, as the Government calculates your MTC entitlement based on when IRD receives your contributions, not when they're paid into your AMP KiwiSaver Scheme account. 
  • Contributions direct to AMP
    You can get your most up-to-date information at My AMP. When you first joined the AMP KiwiSaver Scheme, you were given a username and password; if you have logged on previously, these are still valid. If you have not previously checked your balance online, or have forgotten your details, you can retrieve your username and password or register for the first time online. You'll just need your AMP KiwiSaver Scheme member number.

The Government will not make additional Member Tax Credit (MTC) payments on any amount above $1,042.86 that is paid in this KiwiSaver year. However, making extra contributions when you can afford to can be a good way to grow your retirement savings.

If you have any further questions about MTC, please talk to your Adviser or call us on 0800 AMP KIWI (267 5494).

You will be eligible for a MTC while you contribute to the AMP Kiwisaver Scheme from the age 18 and your qualifying date.

You will need to reside mainly in New Zealand, unless you are a Government employee living overseas or you are volunteering (or working for token payment) for specified charitable organisations.

Qualifying Date means the date you qualify for New Zealand Superannuation (currently 65); or if you joined after age 60, after five years’ membership of a KiwiSaver scheme or a complying superannuation fund.

The KiwiSaver MTC year runs from 1 July to 30 June.

If you join a KiwiSaver scheme, or turn 18 years old part-way through a KiwiSaver tax year (1 July to 30 June), you’ll receive a member tax credit based on the number of days in the year you’ve been an eligible member. This may mean you might not receive the maximum $521.43.

The information on this page reflects AMP’s understanding of the Government’s current policy on MTCs. This policy could change in the future.

For more information on the MTC please talk to your adviser or call us 0800 267 5494.

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Important information

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1The MTC calculation is for illustration purposes only and is in today's dollars, before taking into account returns, fees, inflation and taxes, and is based on the assumption that a new member joins KiwiSaver at age 18, keeps making minimum personal contributions of $1,042.86 per year, remains eligible for MTCs and receives the full MTC each year until 65. Compounding effect equals a sum of your regular annual personal contributions of $1,042.86 to you KiwiSaver account and MTC over 47 years of KiwiSaver membership.

AMP Wealth Management New Zealand Limited is the issuer and manager of the AMP KiwiSaver Scheme (the 'Scheme'). The Supervisor of the Scheme is The New Zealand Guardian Trust Company Limited.

For more information, download a copy of the AMP KiwiSaver Scheme Product Disclosure Statement and Fund Update Booklet, which have been lodged on the Scheme's offers register entry at https://www.companiesoffice.govt.nz/disclose.

While care has been taken to supply information on this website that is accurate, no entity or person gives any warranty of reliability or accuracy, or accepts any responsibility arising in any way including from any error or omission.

A disclosure statement is available from your adviser, on request and free of charge.