Latest news with #Kiwisaver
Scoop
2 days ago
- Business
- Scoop
Govt Cuts KiwiSaver, Hnry Steps In With $130,000 Injection
Press Release – Hnry Hnry – one of New Zealands largest accountancy firms – says the move responds to growing concern among sole traders about the impact of the governments decision. Hnry is topping up KiwiSaver accounts for 500 randomly selected customers with a one-off $260.72 contribution, directly responding to the government's decision to halve the annual KiwiSaver top-up for the self-employed in Budget 2025. New survey data reveals that 52 per cent of sole traders oppose the government's policy, only 19 per cent support it, and 24 per cent plan to reduce their KiwiSaver contributions as a result. James Fuller, Hnry CEO and co-founder, warns the decision will lead to more people relying on state-funded support and is calling for the top-up to be reinstated for sole traders and broader reform to support sole trader retirement savings. Hnry is topping up the KiwiSaver accounts of 500 sole traders, stepping in after the government halved its annual contribution to self-employed workers from 1 July. The randomly selected Hnry customers will each receive a one-off KiwiSaver contribution of $260.72, matching the amount removed in Budget 2025 and injecting more than $130,000 directly into customers' retirement savings, which could boost the group's collective funds by one million dollars by the time they retire. Hnry – one of New Zealand's largest accountancy firms – says the move responds to growing concern among sole traders about the impact of the government's decision. New findings from the latest Sole Trader Pulse survey, the country's only independent survey of sole traders, reveal: Fifty-two per cent oppose the cut Just 19 per cent support it Almost a quarter say they will reduce KiwiSaver contributions because of it 41 per cent have paused Kiwisaver or saving contributions due to inflationary pressures Unlike employees, sole traders don't receive employer contributions. Their only incentive to save for retirement comes from the government's annual top-up, now halved, which applies if they save at least $1,042.86 a year. 's modelling suggests that this could reduce their overall retirement savings by up to 17 per cent. Hnry co-founder and CEO James Fuller says the country's 400,000 sole traders are hardest hit, but there's been no recognition of the impact from the government. 'We don't employ these people, but we do see every day how hard they work and how little support they get. This cut makes it even more difficult for them to establish long-term financial security. It shouldn't fall to private businesses to fill the gap, and while we'd love to help every customer, we're in a position to help some, so we are,' he says. The 500 randomly selected Hnry customers are being notified today of the one-off contribution being paid directly into their KiwiSaver account. Fuller says the government continues to underestimate the scale and contribution of the self-employed workforce, and, as a starting point, is calling on it to reverse the Budget 2025 decision and reinstate the full $521.43 top-up for sole traders. 'We're talking about nearly 20 percent of the workforce; builders, electricians, physios, nurses, and creatives. People we rely on every day, but who are constantly overlooked by a government that favours policies that benefit big business. 'This isn't a fringe issue; the ripple effect is irrevocable; it will create headaches for future governments when it comes to dealing with more retirees relying on state-funded support because they have less in their retirement savings. 'There are also additional levers that could be pulled to encourage people to save for their retirement – contributions in Australia are tax-deductible, which incentivises people to save. We need to be doing more, not less; yet we're stuck with shortsighted decisions that unfairly penalise a workforce that contributes billions to our country's GDP every year,' he says. Hnry is finalising a joint report with the Retirement Commission, set for release next month, exploring ways the government can better support sole traders' retirement savings. The latest Sole Trader Pulse was conducted between 2 and 13 June 2025, with a margin of error of ±4.4%. FAQ How were customers selected? Hnry randomly selected 500 customers from its database, who will be notified today. How much money will each customer receive? Each selected customer will receive a total of $260.72, paid directly into their KiwiSaver account. Hnry will make payments in two instalments: one in July and one in August 2025. Will this be an annual contribution? No. This is a one-off contribution made in response to the government's decision, announced in Budget 2025, to halve the annual KiwiSaver contribution for sole traders. Why has Hnry decided to make this contribution? Modelling from shows that cutting the government contribution will leave the self-employed 17 per cent worse off at retirement than those in traditional employment. Hnry is in a position to provide a one-off contribution and wants to support its customers where it can. Is Hnry responsible for KiwiSaver contributions – and should the private sector be doing more? No. Hnry supports and advocates for New Zealand's sole trader workforce, but it does not employ them and therefore does not make employer KiwiSaver contributions. Employees already receive employer contributions to their retirement savings – the issue here is that sole traders' only incentive, the government contribution, has been halved. By making this one-off payment, Hnry aims to offset the $260.72 loss these 500 sole traders will face in the 2025/26 year, and to draw attention to a broader issue: if the needs of the country's 400,000 sole traders continue to be overlooked, the government risks creating a generation of Kiwis who may require greater support in retirement. About Hnry: Founded in 2017, Hnry is one of New Zealand's largest accountancy firms. It provides a pay-as-you-go, all-in-one digital accounting service that handles invoicing, expenses, payments, taxes, filings, and offers expert on-demand support. Hnry takes care of all the financial admin for contractors, freelancers, sole traders, and the self-employed, allowing them to focus on getting the job done rather than worrying about tax and compliance. Hnry recently won the 'Innovation in Financial Services' category at the 2024 INFINZ Awards. In 2023 and 2024, as well as being one of the leading companies in the Deloitte Fast 50, it was also recognised as the Fastest Growing Technology Business in the Wellington and Lower North Island region.
Scoop
3 days ago
- Business
- Scoop
Govt Cuts KiwiSaver, Hnry Steps In With $130,000 Injection
Hnry is topping up KiwiSaver accounts for 500 randomly selected customers with a one-off $260.72 contribution, directly responding to the government's decision to halve the annual KiwiSaver top-up for the self-employed in Budget 2025. New survey data reveals that 52 per cent of sole traders oppose the government's policy, only 19 per cent support it, and 24 per cent plan to reduce their KiwiSaver contributions as a result. James Fuller, Hnry CEO and co-founder, warns the decision will lead to more people relying on state-funded support and is calling for the top-up to be reinstated for sole traders and broader reform to support sole trader retirement savings. Hnry is topping up the KiwiSaver accounts of 500 sole traders, stepping in after the government halved its annual contribution to self-employed workers from 1 July. The randomly selected Hnry customers will each receive a one-off KiwiSaver contribution of $260.72, matching the amount removed in Budget 2025 and injecting more than $130,000 directly into customers' retirement savings, which could boost the group's collective funds by one million dollars by the time they retire. Hnry - one of New Zealand's largest accountancy firms - says the move responds to growing concern among sole traders about the impact of the government's decision. New findings from the latest Sole Trader Pulse survey, the country's only independent survey of sole traders, reveal: Fifty-two per cent oppose the cut Just 19 per cent support it Almost a quarter say they will reduce KiwiSaver contributions because of it 41 per cent have paused Kiwisaver or saving contributions due to inflationary pressures Unlike employees, sole traders don't receive employer contributions. Their only incentive to save for retirement comes from the government's annual top-up, now halved, which applies if they save at least $1,042.86 a year. modelling suggests that this could reduce their overall retirement savings by up to 17 per cent. Hnry co-founder and CEO James Fuller says the country's 400,000 sole traders are hardest hit, but there's been no recognition of the impact from the government. 'We don't employ these people, but we do see every day how hard they work and how little support they get. This cut makes it even more difficult for them to establish long-term financial security. It shouldn't fall to private businesses to fill the gap, and while we'd love to help every customer, we're in a position to help some, so we are,' he says. The 500 randomly selected Hnry customers are being notified today of the one-off contribution being paid directly into their KiwiSaver account. Fuller says the government continues to underestimate the scale and contribution of the self-employed workforce, and, as a starting point, is calling on it to reverse the Budget 2025 decision and reinstate the full $521.43 top-up for sole traders. 'We're talking about nearly 20 percent of the workforce; builders, electricians, physios, nurses, and creatives. People we rely on every day, but who are constantly overlooked by a government that favours policies that benefit big business. 'This isn't a fringe issue; the ripple effect is irrevocable; it will create headaches for future governments when it comes to dealing with more retirees relying on state-funded support because they have less in their retirement savings. 'There are also additional levers that could be pulled to encourage people to save for their retirement - contributions in Australia are tax-deductible, which incentivises people to save. We need to be doing more, not less; yet we're stuck with shortsighted decisions that unfairly penalise a workforce that contributes billions to our country's GDP every year,' he says. Hnry is finalising a joint report with the Retirement Commission, set for release next month, exploring ways the government can better support sole traders' retirement savings. The latest Sole Trader Pulse was conducted between 2 and 13 June 2025, with a margin of error of ±4.4%. FAQ How were customers selected? Hnry randomly selected 500 customers from its database, who will be notified today. How much money will each customer receive? Each selected customer will receive a total of $260.72, paid directly into their KiwiSaver account. Hnry will make payments in two instalments: one in July and one in August 2025. Will this be an annual contribution? No. This is a one-off contribution made in response to the government's decision, announced in Budget 2025, to halve the annual KiwiSaver contribution for sole traders. Why has Hnry decided to make this contribution? Modelling from shows that cutting the government contribution will leave the self-employed 17 per cent worse off at retirement than those in traditional employment. Hnry is in a position to provide a one-off contribution and wants to support its customers where it can. Is Hnry responsible for KiwiSaver contributions - and should the private sector be doing more? No. Hnry supports and advocates for New Zealand's sole trader workforce, but it does not employ them and therefore does not make employer KiwiSaver contributions. Employees already receive employer contributions to their retirement savings - the issue here is that sole traders' only incentive, the government contribution, has been halved. By making this one-off payment, Hnry aims to offset the $260.72 loss these 500 sole traders will face in the 2025/26 year, and to draw attention to a broader issue: if the needs of the country's 400,000 sole traders continue to be overlooked, the government risks creating a generation of Kiwis who may require greater support in retirement. About Hnry: Founded in 2017, Hnry is one of New Zealand's largest accountancy firms. It provides a pay-as-you-go, all-in-one digital accounting service that handles invoicing, expenses, payments, taxes, filings, and offers expert on-demand support. Hnry takes care of all the financial admin for contractors, freelancers, sole traders, and the self-employed, allowing them to focus on getting the job done rather than worrying about tax and compliance. Hnry recently won the 'Innovation in Financial Services' category at the 2024 INFINZ Awards. In 2023 and 2024, as well as being one of the leading companies in the Deloitte Fast 50, it was also recognised as the Fastest Growing Technology Business in the Wellington and Lower North Island region.
1News
15-07-2025
- Business
- 1News
Woman accused of murdering mum spent $155k on crypto in a year
The Crown says murder-accused Julia DeLuney used money from her mother to pay off credit card debt and invest further in cryptocurrency. DeLuney is on trial for the murder of her 79-year-old mother, Helen Gregory, who died at her home in the Wellington suburb of Khandallah in January last year, a crime which she denies. Two days before her mother's death, DeLuney sent her an email saying a sum of money she had invested six months ago on her mother's behalf had made a large profit - more than $268,000 - and she recommended they cash out. She said in order to do that, she needed $30,000 for withdrawal fees and tax liability, and asked her mother to cover half. The court heard on Monday from a cryptocurrency expert that those fees were "totally false," and a common scam. ADVERTISEMENT Helen Gregory. (Source: The court also heard DeLuney used a screenshot of someone else's crypto account to show her mother a graph of her profits. But her mother set about finding $15,000. She had $6000 in cash, which the Crown heard from a bank teller she deposited into her daughter's account on January 23. Then, the court was played a phone call between Gregory and her bank in which she withdrew more from her Kiwisaver, sending a further $9000 to DeLuney's bank account. Those payments appear on DeLuney's statement with the reference: JULIAFROMMUM. Then, her bank statements show she used that money to pay off credit card debt, buy a Lotto ticket, make payments to Sky TV, Afterpay and Mitre 10, and invested about $2000 in cryptocurrency. Financial analyst Eric Huang told the court his analysis of DeLuney's financial records, excluding cash deposits, showed she had spent more than she earned in the year before her mother's death, the High Court heard on Tuesday. ADVERTISEMENT Huang told the court records showed that between January 1, 2023 and January 25, 2024 - the day after her mother's death - she spent more than $155,000 on cryptocurrency investments. That totalled 47% of her income. Huang said in that same period, she received more than $92,000 from friends and family, primarily her mother and father. Her earnings from cryptocurrency, at least the ones which passed through her bank accounts, were outweighed by her investments; by January 2024, she was $68,000 in the red. Huang said his analysis had shown she spent a "significant amount" on Afterpay purchases, totalling $39,000, on travel and accommodation, totalling $5736, and on personal beauty services like hair and nails, totalling $4339. She did not meet her minimum repayments on her credit card three months out of 12. The Crown said DeLuney attacked her mother before staging it to look like she had fallen from the attic, a crime which was potentially financially motivated. But the defence claims someone else caused those injuries in the 90 minutes in which she had gone to get help. The trial is expected to continue into next week.
Otago Daily Times
15-07-2025
- Business
- Otago Daily Times
Woman accused of killing mum spent $155K on crypto in a year
By Kate Green of RNZ The Crown says murder-accused Julia DeLuney used money from her mother to pay off credit card debt and invest further in crypto-currency. DeLuney is on trial for the murder of her 79-year-old mother, Helen Gregory, who died at her home in the Wellington suburb of Khandallah in January last year, a crime which she denies. Two days before her mother's death, DeLuney sent her an email saying a sum of money she had invested six months ago on her mother's behalf had made a large profit - more than $268,000 - and she recommended they cash out. She said in order to do that, she needed $30,000 for withdrawal fees and tax liability, and asked her mother to cover half. The court heard on Monday from a cryptocurrency expert those fees were "totally false", and a common scam. The court also heard DeLuney used a screenshot of someone else's crypto account to show her mother a graph of her profits. But her mother set about finding $15,000. She had $6000 in cash, which the Crown heard from a bank teller she deposited into her daughters account on 23 January. Then, the court was played a phone call between Gregory and her bank in which she withdrew more from her Kiwisaver, sending a further $9000 to DeLuney's bank account. Those payments appear on DeLuney's statement with the reference: JULIAFROMMUM. Then, her bank statements show she used that money to pay off credit card debt, buy a Lotto ticket, make payments to SkyTV, Afterpay and Mitre10, and invested about $2000 in crypto-currency. Financial analyst Eric Huang told the court his analysis of DeLuney's financial records, excluding cash deposits, showed she had spent more than she earned in the year before her mother's death, the High Court heard on Tuesday. Huang told the court records showed between 1 January, 2023 and 25 January, 2024 - the day after her mother's death - she spent more than $155,000 on crypto-currency investments. That totalled 47 percent of her income. Huang said in that same period, she received more than $92,000 from friends and family, primarily her mother and father. Her earnings from crypto currency, at least the ones which passed through her bank accounts, were outweighed by her investments; by January 2024, she was $68,000 in the red. Huang said his analysis had shown she spent a "significant amount" on Afterpay purchases, totalling $39,000, on travel and accommodation, totalling $5736, and on personal beauty services like hair and nails, totalling $4339. She did not meet her minimum repayments on her credit card three months out of 12. The Crown said DeLuney attacked her mother before staging it to look like she had fallen from the attic, a crime which was potentially financially motivated. But the defence claims someone else caused those injuries in the 90 minutes in which she had gone to get help. The trial is expected to continue into next week.
Otago Daily Times
14-07-2025
- Business
- Otago Daily Times
Murder victim's eerie message played in court
By Kate Green of RNZ "Not that I'm thinking of dying tomorrow or anything," said 79-year-old Helen Gregory, who would be killed in her home in the Wellington suburb of Khandallah the following day. The audio comes from a phone call to her bank, made on the evening of 23 January 2024. It was played to the High Court on Monday, where her daughter Julia DeLuney is charged with her murder. The trial is now in its fourth week. The court previously heard that DeLuney invested a large sum of money on her mother's behalf into crypto currency, which she had been trading in for years. In an email sent on 22 January - two days before her mother's death - DeLuney told her mother her money had made a profit of more than $268,000 - "not a bad investment for six months", she wrote. She recommended they withdraw the profit, and leave the initial investment of $100,000 there to keep growing. DeLuney then told her mother she needed to pay $30,000 in exchange fees and tax liability to be able to withdraw the money. She said she could cover half, but needed her mother to pay the rest. The following morning, Gregory wrote back that she agreed it was a good idea to cash up. DeLuney urged her not tell anyone about the profit. "Please please please don't show this to your friends, once people know that you've made some money they will change," she said. And in a later email: "Don't tell the bank about your crypto profits, they won't lend you a thing if you tell them that." On 23 January - the day before her death - Gregory went to the bank and deposited $6000 cash into her daughter's account, according to written evidence from the bank assistant who served her. Later that day, she phoned up to take money out of her Kiwisaver. "We're pre-paying a funeral thing," she explained. "Not that I'm thinking of dying tomorrow or anything." This part of the recording was met by a collective intake of breath from the public gallery. But the Crown says DeLuney misrepresented her mother's money having made a profit. Attached to her initial email, DeLuney sent her mother a screenshot of her account's profit and loss for the past three months. But the screenshot was of someone else's earnings, the Crown says. Crown witness Detective Constable Tobias Weavers, who investigated DeLuney's crypto accounts, told the court on Monday the screenshot matched a graph of a different user's account, publicly available on the leaderboard of crypto-trading platform WOO X. The Crown's case is that DeLuney attacked her mother and staged it to look like a fall, but the defence says, in the 90-minute window when she went to get help after the fall, someone else caused fatal injuries to her elderly mother. DeLuney cried quietly in the dock while her mother's voice played to the court. The trial continues, with only a handful of Crown witnesses to go.
