KiwiSaver Act Commencement Order 2006
KiwiSaver Act Commencement Order 2006
KiwiSaver Act Commencement Order 2006
2006/357
KiwiSaver Act Commencement Order 2006
Note
This order is administered by the Inland Revenue Department.
-
Preamble
At Wellington this 27th day of November 2006
Pursuant to section 2 of the KiwiSaver Act 2006, His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council, makes the following order.
1 Title
This order is the KiwiSaver Act Commencement Order 2006.
2 Commencement of provisions of KiwiSaver Act 2006
-
(1) The following provisions of the KiwiSaver Act 2006 come into force on 1 July 2007:
(a) sections 10 to 21 (which are the automatic enrolment rules):
(c) sections 33 to 39 (which relate to opting in):
(d) sections 40 to 43 (which require information about the overall KiwiSaver scheme to be provided):
(e) section 45 (which relates to people choosing their own KiwiSaver scheme):
(f) section 66 (which is the obligation to make deductions):
(g) so much of Schedule 3 as relates to section NE 3(2) to (6) of the Income Tax Act 2004 (which is the capped exemption from specified superannuation withholding tax for employer contributions to KiwiSaver schemes).
(2) The rest of the KiwiSaver Act 2006 comes into force on 1 December 2006.
Diane Morcom,
Clerk of the Executive Council.
Explanatory note
This note is not part of the order, but is intended to indicate its general effect.
This order brings into force, on 1 July 2007, the key provisions of the KiwiSaver Act 2006. These are the provisions that relate to—
•the automatic enrolment of people in KiwiSaver schemes on starting new employment and related notice requirements:
•the opting in of people to KiwiSaver schemes and related information requirements:
•the requirements for the Commissioner of Inland Revenue and employers to supply information packs about the overall KiwiSaver scheme:
•the ability for people to choose their own KiwiSaver scheme by contracting directly with the provider:
•the obligation for employers to make deductions:
•the capped exemption from specified superannuation withholding tax for employer contributions to KiwiSaver schemes.
The rest of the Act comes into force on 1 December 2006, so that things can be set up ready for when the key provisions commence.
Issued under the authority of the Acts and Regulations Publication Act 1989.
Date of notification in Gazette: 30 November 2006.