BORA Taxation (Kiwisaver and Company Tax Rate Amendments) Bill [pdf, 386 KB]
...KiwiSaver scheme was established to encourage in individuals a long-term savings habit and asset accumulation with the aim of increasing individuals’ well being and financial independence, particularly in retirement. New section KJ2 contributes to the appeal of the KiwiSaver scheme with the promise of tax credits to members of KiwiSaver. 11. The purpose of the age distinction is to avoid creating an incentive for those aged 16 or 17 to leave educational training and enter the workforce...