Tax

ACC’s contributions to your mysuper account are subject to Employer Superannuation Contribution Tax (ESCT). This is deducted before payment is made into your mysuper account and will appear on your ACC payslip.

Since your contributions are taxed before they’re added to your retirement savings, you won't have to pay any tax when you withdraw your retirement savings – what you see in your final mysuper account balance is what you’ll get.

 
Your salary plus employer contribution Tax Rate
Up to $16,800 10.5%
$16,801 – $57,600 17.5%
$57,601 – $84,000 30%
$84,001 and up 33%

Example

If your salary is $50,000 ACC will contribute $4,500 (9%) towards your savings. However, the $4,500 is taxed at 17.5%, so the actual amount going into your mysuper account each year would be $3,713.

New Zealand Income Tax - this document provides additional information on how New Zealand income tax will impact on your investment in mysuper.