Recent News
News Categories
- Case Studies (13)
- Fire and General Insurance (33)
- Home Loans (31)
- Investments (25)
- KiwiSaver (41)
- Life Insurance (57)
- Uncategorized (11)
Client – 47 year old divorcee KiwiSaver Scenario
Category: Case Studies, KiwiSaver
|
Client – 47 year old divorcee Sarah joined KiwiSaver as she wanted to get back on the property ladder. Sarah had previously owned her own home but when her marriage broke up she had to start back at scratch saving once more. What do you like about KiwiSaver Sarah? I didn’t realise that I could also be eligible for the Housing Corp subsidy, even though I had owned a property previously. Denis spoke to me about the ‘second chance’ home buyer which was just like the situation I am in. I’m saving again to buy my ‘first home’ with KiwiSaver – I can get the Housing Corp subsidy plus take out my contributions and my employers contributions after only three years – it’s given me a whole new independence! discuss your Kiwisaver options with Thorners. Click here to email Thorners or Call Us on (04) 528 8088 Click here to view our disclosure statement.
|
Client – 55-65 year old KiwiSaver Scenario
Category: Case Studies, KiwiSaver
|
Client – 55-65 year old scenario Jerry joined up with KiwiSaver last year. He’s 61 and while he’s already got plans in place for his retirement, Denis spoke to him about making the most out of KiwiSaver so he joined up. What do you like about KiwiSaver Jerry? It’s a no brainer for someone my age – I join, put in my $20 a week and the government matches it! By the time I retire I’ve worked out that I could have at least $11,000. That’s going to be my holiday to Europe! Discuss your Kiwisaver options with Thorners. Click here to email Thorners or Call Us on (04) 528 8088 Click here to view our disclosure statement.
|
Young Couple KiwiSaver Scenario
Category: Case Studies, KiwiSaver
|
Young Couple Scenario Mike and Sally have both joined KiwiSaver. Mike was automatically enrolled when he started his new job but he then spoke to Denis who helped him decide which KiwiSaver provider and product was best suited for him. Sally’s a stay at home Mum and wanted to make the most out of what the Government was giving away so she joined up too. What do you like about KiwiSaver Sally? I can log on to my providers website and see my balance online. It’s simple to understand and at least I can track where my money is going. What do you like about KiwiSaver Mike? Denis spoke to me about how KiwiSaver can help me buy our first home. We’ve been saving up for a home for a few years but never seem to get far. With KiwiSaver, Housing Corp could give us up to $10,000 as a couple to use as a deposit. I can also use my own KiwiSaver money for that deposit too – it makes savings easier. My KiwiSaver money comes out before I get my pay check so I don’t even notice it – it’s only $2 for every $100 I earn anyway. Discuss your KiwiSaver options with Thorners Click here to view our disclosure statement. Click here to email Thorners or Call Us on (04) 528 8088
|
KiwiSaver Statistics January 2010
Category: KiwiSaver
|
KiwiSaver continues to gain momentum. At the end of January 2010 there were 1,305,127 members with potentially 491,330 being in default funds. There are benefits from choosing your own provider and fund so let’s talk about your options if you have gone to a default provider. If you are still sitting on the fence over whether to join or not, contact us soon to see if KiwiSaver fits your personal situation. The ability to transfer Australian Super into KiwiSaver is still not in place and this is expected mid year – watch our website for developments. Members continue to be amazed with the speed with which their funds are accumulating. If your provider doesn’t offer online access, give us a call and we can discuss options to make this facility available 24/7. We welcome your call or email to ask about KiwiSaver and look forward to hearing from you soon. Click here to view our disclosure statement. Click here to email Thorners or Call Us on (04) 528 8088
|
Under 65 and working or not, ask me about KiwiSaver
Category: KiwiSaver
|
Have all of your family had their slice of the cake from KiwiSaver? Whether working or not, so long as you or your family members are under 65 years of age, I can show you how to benefit from KiwiSaver. The compounding effect of the additional benefits is hard to beat in the current financial climate with many clients being amazed at the benefits and entitlements available under the scheme. I am available to discuss your investment, insurance, mortgage and KiwiSaver needs in what is a difficult time for many of us at the moment so please feel free to contact me anytime if you have any questions. My personal email is denis@thorner.co.nz or ph 04 528 8088. Talk to me about your situation soon. Click here to view our disclosure statement. Click here to email Thorners or Call Us on (04) 528 8088
|
Mayoral congratulations to Thorners for recent business award
Category: Uncategorized
|
Mayor of Upper Hutt Wayne Guppy has written to Denis Thorner to express his congratulations on winning the recent Upper Hutt Business Excellence Award for Best Trade/Service Business 2009. Wayne commented this is indeed a magnificent achievment and I am sure that you are all very proud of your achievment. He also wished to thank Thorners for their support and commitment to the citizens of Upper Hutt. To experience service excellence, contact Thorners for all of your insurance, home loan and KiwiSaver requirements today. Thorners service clients New Zealand wide and offer home appointments from Wellington through to Napier by arrangement. Click here to email Thorners or Call Us on (04) 528 8088
|
Maximising KiwiSaver Tax Credits
Category: KiwiSaver
|
Those KiwiSaver members who have contributed less than $1,042 in the year since 1 July may miss out on maximising their Member Tax Credits. As you know, provided the member is aged over 18, the Government will match their contributions for the year to 30 June, dollar for dollar, up to a maximum of $1,042 per year. If they have been a member for less than a year, or turned 18 during the year, they are eligible for a proportionate amount. A number of members who will have contributed less than $1,042 in the current year. In such cases the Government will match only what they’ve paid in. Under the rules, a member can “top up” their contributions at any time prior to 30 June to ensure they’ve contributed at least $1,042 in the current year, and hence gain the full benefit of the member tax credit. You should speak to Thorners if you are aged 18 and older and believe you have contributed less than $1,042 to your Kiwisaver in the last year. We service clients NZ wide so contact us for information today. Click here to view our disclosure statement. Click here to email Thorners or Call Us on (04) 528 8088
|
KiwiSaver Statistics December 2008
Category: KiwiSaver
|
The continued growth in KiwiSaver saw membership reach 900,509 members at 31 December 2009 with 51% being females. Nearly half opted in via a provider of their choice with 35% going to one of the default funds due to lack of personal choice. Of interest, 136,330 members are aged 17 or under and only 166,795 members are ages 55 or over. Both of these age groups can get considerable value from joining KiwiSaver and membership of these people is expected to be the growth area. Changes being introduced from 1 April 2009 include the minimum members contribution dropping to 2% but anybody availing of this reduced amount should seek financial advice to ensure they are maximising the benefits. Employer chosen schemes are also increasing in number as employers and staff see the benefits of membership through this type of facility. Contact Thorners if you have any questions on how KiwiSaver can work for you or your employees. Click here to email Thorners or Call Us on (04) 528 8088 Click here to view our disclosure statement.
|
KiwiSaver Member Tax Credits – what, why and how to get them
Category: KiwiSaver
|
What is the member tax credit? If you’re eligible, the Government will pay into your KiwiSaver scheme an annual member tax credit matching your contributions up to $1,042.86 per year (this works out to about $20 per week).
How the member tax credit works The member tax credit year is based on 1 July to 30 June. To receive the maximum member tax credit of $1,042.86 you must have: · been a member of a KiwiSaver or complying scheme for the entire year, and · contributed at least $1,042.86. If you join part-way through a membership year then at the end of the first year (30 June) you’ll receive a member tax credit in proportion to the length of time you’ve been a member. For example, if your start date is 1 January, then by 30 June you’ll be eligible for a maximum member tax credit of $521.43 (half of the annual maximum). How to calculate your membership start date is detailed below. Important: Employer contributions or any contributions you may divert to your mortgage aren’t included when calculating how much you’ve contributed in a year for the member tax credit entitlement. If you belong to a KiwiSaver scheme and another superannuation fund which has a complying fund, the tax credit will be paid to the fund that applies first. Who can get it? To qualify for the member tax credit: · you must be 18 or over, and · your principal place of residence must be in New Zealand, except for: · a government employee who’s serving outside New Zealand · a person who’s working overseas as a volunteer, or for token payment for a charitable organisation named in the Student Loan Act regulations and if the work meets one or more of the requirements set out in the Student Loan Schemes Act 1992. Note: If you turn 18 during the year and meet the residency requirement, you’ll get member tax credit for the portion of the year that you’re 18. When do you get it? Your scheme provider will claim the tax credit on your behalf from 1 July each year – you don’t have to do anything. It will be invested in your account anytime from July onwards, depending on when your scheme provider makes the claim. If you’re an employee and we haven’t received all your contributions from your employer when your scheme provider makes the claim, the balance will be paid once we receive it. How to calculate your KiwiSaver Membership Start Date Please note that due to a successful legislative challenge this is different to previously communicated Active Choice Enrolments 1. If the member joined KiwiSaver between 1 July 2007 to 30 September 2007 and had deductions made from their salary or wages, or made a contribution into their KiwiSaver account prior to 1 November 2007, their eligibility for the member tax credit would commence from the earlier of: · the first of the month in which their KiwiSaver scheme provider received a valid application for KiwiSaver membership; or · the first of the month in which their first deduction had been made from salary; or their first contribution was received by their scheme provider or Inland Revenue. 2. If the member joined KiwiSaver between 1 July 2007 to 30 September 2007 but did not have deductions made from their salary or wages, or make a contribution into their KiwiSaver account until on or after 1 November 2007, their eligibility for the member tax credit would commence on the date their KiwiSaver scheme provider received a valid application for KiwiSaver membership. 3. If the member joined KiwiSaver on or after 1 October 2007 their eligibility for the member tax credit would commence from the earlier of: · the actual date their KiwiSaver scheme provider received a valid application for KiwiSaver membership; or · the first of the month in which their first deduction had been made from salary or wages or their first contribution was received by their scheme provider or Inland Revenue. Enrolments through an employer 1. If the member joined KiwiSaver via their Employer their eligibility for the member tax credit would commence from the first of the month in which their first deduction had been made from salary or wages. How is MTC calculated when membership is less than 1 year? · The government intends to match member’s contributions up to a maximum of 20 a week, for the weeks they are a member. · The annual MTC entitlement is $1042.86, which equates to approximately $2.86 a day (1042.86 / 365). · A member’s MTC is therefore calculated at the lesser of ($1042.86 / 365) or the member’s actual daily contribution rate, for the number of days they are a member during the member credit year. · The member credit year is 1 July to 30 June so a “part-year” calculation is only required in the first and last years of membership. Click here to view our disclosure statement
Click here to email Thorners or Call Us on (04) 528 8088
|
KiwiSaver Statistics November 2008
Category: KiwiSaver
|
KiwiSaver membership continues to grow with 867,388 members at 29 November 2008, up from 837,908 at 31 October 2008. This still represents only 23% of elegible people under 65 years of age and Thorners continue with their belief that only those that do not understand KiwiSaver are the non members. There are also only 15,942 employers who have partnered with a preferred KiwiSaver provider. Employers seem to be wary of doing this but the benefits of having a financial services provider available to answer staff queries can remove the stress of being unable to provide the financial advice staff are looking for. Benefits of preferred agreements can also include reduced monthly fees on KiwiSaver accounts and free life cover for members. Talk to us soon to see if KiwiSaver is correct for you, your children, your grandchildren and if in business, to see how a preferred agreement can work for you and your staff. Click here to email Thorners or Call Us on (04) 528 8088 Click here to view our disclosure statement.
|