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# Budget 2025 brings major changes to KiwiSaver, benefits  and business tax
- URL: https://goodoil.news/budget-2025-brings-major-changes-to-kiwisaver-benefits-and-business-tax/
- Published: 2025-05-22T09:48:55.000Z
- Updated: 2025-05-22T20:13:20.000Z
- Description: Show me the money!
- Author: Centrist
- Tags: News

Summarised by [Centrist](https://centrist.nz/?ref=goodoil.news)

**For businesses, Finance Minister Nicola Willis 2025 Budget’s headline policy is a new tax incentive that allows them to write off 20 percent of new asset purchases, such as equipment or tools, against their tax bill.** 

**The Budget also includes large savings from the recent changes to pay equity rules. The government’s move to make it harder to pursue industrial pay equity claims is expected to** [**save**](https://www.beehive.govt.nz/speech/minister-finance%E2%80%99s-budget-2025-speech?utm%5Fsource=chatgpt.com) **nearly $3 billion per year.** 

From April next year, the Best Start child payment will become fully income tested. Families earning more than $97,000 a year will no longer be eligible.

For KiwiSaver, the government will now put in just 25 cents for every dollar saved, up to a maximum of $261 per year. The minimum contributions from workers and employers will also increase gradually from 3 percent to 4 percent over the next three years. 

People earning more than $180,000 a year will no longer receive government contributions at all. However, 16- and 17-year-olds, who were previously excluded, will now be eligible for government contributions, and employers will be required to match their payments starting next year.

Meanwhile, 18- and 19-year-olds applying for Jobseeker or emergency benefits will now have to prove that their parents cannot support them.

Education will receive $2.5 billion in new initiatives over four years. 

Treasury forecasts that the government won’t return to surplus until 2029 under a new accounting method that excludes the ACC. Using the traditional approach, New Zealand would still be in deficit by about $3 billion in that year.

[**Read more over at RNZ**](https://www.rnz.co.nz/news/political/561810/budget-2025-at-a-glance-the-big-changes-winners-and-losers?ref=goodoil.news)

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