BORA Taxation (Annual Rates, Business Taxation, Kiwisaver, and Remedial Matters) Bill [pdf, 387 KB]
...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 101C contributes to the appeal of the KiwiSaver scheme with the promise of compulsory employer contributions to an employee's KiwiSaver fund. 12. The purpose of the age distinction is to avoid creating an incentive for those aged 16 or 17 to leave educational tra...