01/04/2026
Happy New Financial Year 🥂 🧮
Accountants get a year until your 31 March 2026 tax return needs to be filed so there's no hurry to get your accounts done - but feel free to send your records in to me when you like so you can join the job queue.
Here’s a summary of key tax and financial changes coming into effect from 1 April 2026 for the new financial year (1 April 2026 – 31 March 2027):
📈 Kiwisaver
Default KiwiSaver contribution rates for both employees and employers increase from 3% to 3.5% from 1 April 2026.
You can apply for a temporary reduction to stay at 3% for 3–12 months if needed.
A further increase to 4% is scheduled for 1 April 2028.
💼 Minimum Wage and ACC
The adult minimum wage increases to $23.95 per hour from 1 April 2026
The ACC earners’ levy increases slightly (from ~1.67% to ~1.75%), meaning a marginally higher deduction from pay.
🧾 Tax Credits and Government Support
The In-Work Tax Credit (IWTC) base rate is temporarily boosted by $50 per week from 1 April 2026 to help working families with cost pressures (e.g. fuel costs), running for up to one year or until the petrol price condition is met.
