MoneyHub NZ
  • Search
  • Investing
    • Investing Platforms
      • Reviews
        • Sharesies Review
        • Hatch Review
        • Stake Review
        • Tiger Brokers (NZ) Review
        • Superhero Review
        • BlackBull Markets Share Trading Platform Review
        • ASB Securities Review
        • Jarden Direct Review
        • InvestNow Review
        • Kernel Review
        • Flint Wealth Review
        • Interactive Brokers
        • Smartshares Review
        • Catalist Review
      • Comparisons
        • Sharesies vs Hatch vs Stake
        • Hatch vs Stake
        • Hatch vs Tiger Brokers
        • Sharesies vs Tiger Brokers
        • Stake vs Tiger Brokers
        • Comparing Sharesies vs Investnow vs Hatch vs Jarden Direct and more
        • Best Investment Apps
        • How Do I Start Investing?
        • Virtual Stocks and Shares Trading Games
      • Guides
        • How to Invest in Shares
        • Investing in Vanguard Funds from New Zealand
        • Investing in the US Stock Market from New Zealand
          • How To Buy Tesla Shares
          • How To Buy Apple Shares
          • How To Buy Amazon Shares
          • How To Buy Alphabet Shares
          • How To Buy Netflix Shares
          • How To Buy Microsoft Shares
          • How To Buy Meta Shares
        • What Happens If Your Investing Platform Shuts Down?
        • Fractional Shares
        • Transferring Share Portfolios
        • How to Read and Understand a Share Chart
        • NZX in a Nutshell
        • Investing in Asian Markets from New Zealand
        • Understand Gross vs Net
    • Introduction to Investing
      • Guides
        • Index Funds
        • 10 Ways to Invest in New Zealand
        • How to Invest Regularly
        • Passive Investing vs Active Investing
        • Investments You Can Own Forever
        • Investing Mistakes
        • ETFs (Exchange Traded Funds)
        • Best Retirement Income Products in New Zealand
        • Index Funds vs ETFs
        • Shares vs ETFs
        • Dollar-Cost Averaging Guide
        • Passive Income Strategies
        • How Wealthy New Zealanders Invest Their Money
        • The Best Way to Invest Inheritance or a Windfall
        • Barefoot Investor-Friendly Financial Products in New Zealand
        • Investment Terms Glossary
        • IPOs
        • Investing in Dividend Shares
        • Common Shareholder Numbers in New Zealand
        • Shorting a Stock
        • Investing vs Trading vs Gambling
      • Young People and Investing
        • Investing for Kids
        • Investing For Grandchildren
        • 10 Top Investments for Young New Zealanders
        • Sharesies Kids Accounts Review
        • SquareOne Review
        • Dosh Review
      • Investing Calculators
        • Compound Interest Calculator
        • Investment Calculator
        • Savings Calculator
        • Net Worth Calculator
        • Million Dollar Calculator
    • Managed Funds, Tax & DIY Investing
      • Guides
        • Investing Guide
        • Our Favourite Funds
        • Advisers
          • Financial Advisers Overview
          • DIY Investing vs Investment Brokerage Firms vs Financial Advisors
          • Financial Advisers Auckland
          • Financial Advisers Wellington
          • Financial Advisers Christchurch
        • Bank Credit Ratings
        • Tax on Investments and Savings
        • Capital Gains Tax
        • Bright-Line Test
        • Ethical Investing
        • Best ESG Funds
        • Asset Allocations to Build Wealth
        • Managing Offshore Investments for Returning New Zealanders and Migrants
        • Managed Funds
          • Booster Private Land and Property Fund Review
        • How to Buy and Sell Bonds
        • Buying NZ Corporate Bonds
        • Trading in a Nutshell
        • Peer to Peer Lending
        • Crowd Funding Guide
        • REITs Guide
        • Jasper Review
        • Investing & Personal Finance Podcasts
        • Emergency Funds
        • UK Pension Transfer to New Zealand
        • Returning to the UK from NZ
        • Spending Your Savings in Retirement
        • How to Take Income from Investments
        • What Am I Entitled to If My UK Pension Scheme or Provider Makes a Mistake?
        • Investment Scams
        • Investing in Recession-Proof Sectors and Asset Classes During a Downturn
        • Hedging Investments
        • Top Personal Finance Books for New Zealanders
        • Top Ten Personal Finance Resources
      • Reviews
        • Simplicity Investment Funds Review
        • Lending Crowd Review
        • Squirrel Review
        • Sharesight Review
        • Lifetime Retirement Income
        • New Zealand Financial Markets Authority (FMA)
      • Calculators
        • Managed Funds Fee Calculator
        • Basis Points Calculator
        • Inflation Calculator
        • Retirement Calculator New Zealand
    • Alternative Investments and Trading
      • Reviews
        • BlackBull Markets Review
        • CMC Markets Review
        • Plus500 Review
        • IG Review
        • TMGM Review
        • CMC Markets vs Plus500 vs IG Markets vs BlackBull Markets
      • Guides
        • How to Invest in Gold
        • How to Invest in Silver
        • Forex Trading Guide
        • Options Trading
        • Contracts for Difference (CFDs) Guide
        • Futures Trading
        • Commodities Trading
        • Forex Trading Tools
        • Forex Trading Platforms Comparison
        • Forex Trading Courses and Education
        • Forex Regulation
        • Copy Trading
    • Cryptocurrency
      • Reviews
        • Easy Crypto Review
        • Swyftx Review
        • Binance Review
        • Easy Crypto vs Swyftx
        • Independent Reserve Review
        • eToro Review
        • Coinbase Review
        • Kiwi-Coin Bitcoin Exchange Review
        • Vault International Bitcoin Fund Review
      • Guides
        • How to Buy Bitcoin in New Zealand
        • Beginner's Guide to Bitcoin and Blockchain
        • Guide to NFTs
        • Bitcoin Wallet Guide
        • Bitcoin Mining
        • How to Sell Bitcoin
        • Bitcoin and Crypto Scams
        • Initial Coin Offerings
        • A Beginner’s Guide to Investing in Cryptocurrencies
        • Decentralised Finance
        • Bitcoin in New Zealand
        • New Zealand Bitcoin Exchanges
        • How to Buy Ethereum in New Zealand
        • Other Coins
          • How to Buy Ripple in New Zealand
          • How to Buy Cardano in New Zealand
          • How to Buy Dogecoin in New Zealand
          • How to Buy Litecoin in New Zealand
          • How to Buy Polkadot in New Zealand
  • Loans & Finance
    • Car Finance
      • Car Finance Calculator
      • Electric Vehicle Loans
      • How to Refinance Your Car Loan
      • Car Loan Refinance Calculator
      • Car Dealership Finance vs Alternatives
      • Bad Credit Car Loans
      • Car Finance Company Reviews
        • AA Money Review
        • Better Finance Review
        • Kiwi Car Loans Review
        • MTF Finance Review
        • Simplify Loans Review
        • Car Loan Brokers vs Direct Car Finance
      • Car Finance Must-Knows Guides
        • Buying a Car Loan vs Personal Loan?
        • Car Loans and Collateral
        • Car Loan Guarantors
        • How to Save for a Car
        • Paying Cash for a Car vs Car Finance
        • Balloon Payments
      • Car Finance Add-On Insurance Guides
        • GAP (Guaranteed Asset Protection Insurance) Insurance
        • MBI (Mechanical Breakdown Insurance)
        • PPI (Payment Protection Insurance)
    • Personal Loans
      • Debt Consolidation Loans
      • Secured Loans
      • Home Renovation Loans
      • Online Loans
      • Bad Credit Loans
      • Beneficiary Loans
      • Payday Loans
      • Cash Advance
      • Same Day Loans
      • Low Income Loans
      • Personal Loan Calculator
      • Debt Consolidation Calculator
      • Refinance Personal Loan Calculator
      • Home Renovation Loan Calculator
      • Interest Calculator
      • Harmoney Loans Review
      • Nectar Review
      • Avanti Finance Review
      • Save My Bacon Review
    • Credit Scores & Interest Rates
      • Credit Scores and Credit Checks
      • How to Build Credit in New Zealand
      • How to Pay Down Debt Faster
      • Baycorp and Debt Collection
      • Interest Rates Guide
      • Interest Rate Comparison
      • Buy Now Pay Later Apps
        • Afterpay Review
        • Laybuy Review
        • Humm Review
        • Zip Review
  • Insurance
    • Car Insurance
      • Guides
        • How to Get Cheaper Car Insurance
        • Car Insurance Calculator
        • No Claims Bonuses Explained
        • Car Insurance Excess Explained
        • Cheapest Cars to Insure
        • Modifications that Make a Car Uninsurable
        • Car Insurers Directory
        • Car Insurance Glossary
      • Reviews
        • Tower Car Insurance Review
        • Cove Car Insurance Review
        • Trade Me Car Insurance Review
      • AMI vs AA Insurance vs Cove vs State vs Tower vs Trade Me Insurance
      • Young Driver Car Insurance
      • Third Party Car Insurance
      • Caravan Insurance
    • Home, Contents and Other Insurance
      • House Insurance
      • House Insurance Calculator
      • Difficult to Insure Areas
      • Insuring Old Houses
      • Contents Insurance
      • Home and Contents Insurance
      • Renters' Insurance
      • Landlord Insurance
      • Dental Insurance and Dentist Plans
      • Phone Insurance
      • Insurance Excess
      • Motorbike Insurance
      • Initio Review
      • Insurance Brokers
        • Trusted Insurance Brokers in Wellington
        • Trusted Insurance Brokers in Christchurch
    • Pet Insurance
      • Is Pet Insurance Worth Buying?
      • Cat and Dog Desexing
      • Getting a Kitten
      • Buying a Puppy
      • Pet Euthanasia
      • Vet Costs in New Zealand
      • Costs of Owning a Cat
      • Costs of Owning a Dog
    • Life & Health Insurance
      • Life Insurance
        • Life Insurance Policy Comparison - Cigna vs AIA vs Asteron Life vs Fidelity vs Westpac vs Partners Life
        • Life Insurance Calculator
        • Pre-Existing Medical Conditions
        • Buying Life Insurance Direct vs Using an Insurance Broker
        • Life Insurance Policies - Features and Questions to Ask
        • When To Cancel Or Change a Life Insurance Policy
        • Life Insurance For Smokers and Vapers
      • Health Insurance
        • Going to Australia for Medical Treatment
      • Income Protection Insurance
        • ACC vs Income Protection Insurance
        • Income Protection Insurance for Self Employed
      • Mortgage Insurance
      • Trauma Insurance
      • Redundancy Insurance
      • Funeral Insurance
        • What to Do When a Spouse or Partner Dies
        • Funeral Costs
  • Credit Cards
    • Best Credit Cards
    • Rewards and Cashback Credit Cards
    • The Best American Express Credit Cards
    • Air New Zealand Airpoints Credit Cards
      • ANZ vs AMEX vs Kiwibank vs Westpac Platinum Airpoints Credit Cards
      • ANZ Airpoints Visa Platinum vs AMEX Airpoints Platinum
      • Kiwibank Airpoints Platinum Visa vs AMEX Airpoints Platinum
      • Westpac Airpoints Platinum Mastercard vs AMEX Airpoints Platinum
    • Balance Transfer Credit Cards
    • Platinum and Gold Credit Cards
    • Reviews
      • American Express Credit Cards Review
        • American Express Airpoints Platinum Review
        • American Express Gold Rewards Card Review
        • AMEX Comparison - Airpoints Platinum vs Gold Rewards
        • American Express Free Card vs Airpoints Platinum
        • American Express Platinum Card Review
        • American Express Membership Rewards Program Review
        • AMEX Cardholder Feedback
        • The Best Ways to Spend AMEX Membership Rewards Points
        • Qantas Credit Cards
        • Singapore Airlines KrisFlyer Credit Cards
        • Cathay Pacific Asia Miles Credit Cards
        • Emirates Skywards Credit Cards
        • RewardPay Review
      • Flight Centre Mastercard Review
    • Guides
      • Pay Off Credit Card Debt
      • Credit Card Basics
      • Mastercard vs Visa
      • Credit Card Minimum Payments Explained
      • Where is Amex Accepted?
      • Credit Card Interest Calculator
      • How to Request a Credit Card Chargeback
    • Other Credit Cards
      • Travel Money Cards
        • Australia Travel Money
        • Bali Travel Money
        • Fiji Travel Money
        • Rarotonga Travel Money
        • UK Travel Money
      • Wise Debit Card Review
      • Revolut Review
      • Revolut vs Wise - Which Is Better?
      • Travelex Money Card vs Wise Debit Card Comparison
      • OneSmart Card vs Wise Debit Card Comparison
      • Cash Passport vs Wise Debit Card Comparison
      • Best Foreign Currency Debit & Credit Cards
      • Free Credit Cards
      • Low Interest Credit Cards
      • Credit Cards for Bad Credit
      • Q Card & Q Mastercard Review
      • GEM Visa Review
      • Onecard Visa Review
      • Purple Visa Review
  • Banking & Savings
    • Banking
      • Best Bank Accounts
      • Best Debit Cards
      • Best Joint Bank Accounts
      • Kids Bank Accounts
      • Cut Overdraft Costs
      • Private Banking
      • International Money Transfers
      • Open an Australian Bank Account from New Zealand
      • Open a UK Bank Account from New Zealand
    • Savings
      • Best Term Deposits
      • Booster Savvy Review
      • Best PIE Term Deposits
      • Best Call Accounts
      • Best Savings Accounts
      • Term Deposit Alternatives
    • Guides and Resources
      • Banks vs Credit Unions
      • Open Banking Guide
      • NZ Bank Prefix Codes
    • Reviews
      • Wise Money Transfer Review
      • Heartland Bank Review
      • First Credit Union Review
      • NZCU Baywide Review
      • The Co-operative Bank NZ Review
      • Western Union Review
  • Mortgages
    • Mortgage Essentials
      • Best Home Loans
      • Mortgage Calculator
      • How Much Can I Borrow?
      • Debt to Income Ratios
      • Equity (and Leverage) Calculator
      • Mortgage Repayment Calculator
      • Mortgage Options
      • Mortgage Cashback
    • Other Mortgage Options
      • Interest-Only Mortgages Guide
      • Interest-Only Mortgage Calculator
      • Revolving Credit Mortgages
      • Offset Mortgages
      • Offset Mortgage Calculator
      • Fixed vs Floating Mortgage Rate Calculator
      • Understanding Interest Rate Swaps
      • What is the OCR?
    • Alternative Mortgage Options
      • Low-Deposit Home Loans
      • Rent to Own Homes
      • First Home Loan Guide
      • Reverse Mortgages
    • Mortgage Management
      • Saving for a House Deposit
      • Pay Off Your Mortgage Faster
      • Mortgage Overpayment Calculator
      • Remortgaging Guide
      • Mortgage Relief and Holidays
      • Amortisation Calculator
      • Mortgage Break Fees
      • Defaulting on a Mortgage
      • High Deposit Mortgages
      • Negative Equity
      • How to Manage Higher Mortgage Payments
      • Mortgage Refinance Calculator
    • Mortgage Brokers
      • Mortgage Brokers Explained
      • Trusted Auckland Mortgage Brokers
      • Trusted Hamilton Mortgage Brokers
      • Trusted Mortgage Brokers in Tauranga
      • Trusted Mortgage Brokers in Napier and Hastings
      • Trusted Mortgage Brokers in Wellington
      • Trusted Mortgage Brokers in Christchurch
    • Buying a Home
      • First Home Buyers Checklist
      • Home Buying Glossary
      • Best House Price & Valuation Websites in New Zealand
      • New Zealand Property Types
      • Rateable Value vs Market Value
      • Leasehold Property Guide
      • Conveyancing vs Lawyers
      • Buying an Apartment in New Zealand
      • Buying vs Renting a House
    • Selling a Home
      • How to Sell Your House Privately
      • Real Estate Agent Fees
      • Bridging Finance
    • Property Investment
      • Investment Property Mortgages
      • Renting Directly to Tenants vs Using an Agent
    • Building a House
      • Average Building Cost Per Square Metre
      • Cost to Build a New House
      • Buying Land to Build a House
      • Construction Loans
      • Tiny Homes in New Zealand
  • KiwiSaver
    • KiwiSaver Basics
      • Our Favourite KiwiSaver Funds
      • Is KiwiSaver Safe?
      • Choosing a KiwiSaver Fund
      • Choosing Your KiwiSaver Scheme
      • Balanced vs Moderate vs Growth KiwiSaver Funds - What is right for me?
      • KiwiSaver Must-Know Facts
      • Opting out of KiwiSaver
      • What Do I Do With My KiwiSaver When I Retire?
      • KiwiSaver Withdrawal
      • Switching KiwiSaver Funds
      • KiwiSaver Robo and Digital Advice Tools
      • Ethical Kiwisaver Funds
      • KiwiSaver Private Equity Investments
    • KiwiSaver Contributions & Tax
      • Your KiwiSaver Contributions
      • KiwiSaver Contributions - Gross or Net?
      • Employer KiwiSaver Contributions
      • Government KiwiSaver Contributions
      • KiwiSaver Savings Suspensions
      • Voluntary Contributions
      • What's My PIR?
      • KiwiSaver and Tax
    • KiwiSaver for Life Events and Specific Situations
      • Average KiwiSaver Balance by Age
      • KiwiSaver First-Home Withdrawal
      • KiwiSaver First Home Grant Guide
      • KiwiSaver Hardship Applications
      • KiwiSaver in a Divorce or Separation
      • KiwiSaver for Kids
    • KiwiSaver Schemes
      • Amanah KiwiSaver Scheme
      • AMP KiwiSaver Scheme
      • ANZ KiwiSaver Scheme
      • ASB KiwiSaver Scheme
      • AON KiwiSaver Scheme
      • BNZ KiwiSaver Scheme
      • Booster KiwiSaver Scheme
      • Fisher Funds KiwiSaver Scheme
      • Generate KiwiSaver Scheme
      • InvestNow KiwiSaver Scheme
      • JUNO KiwiSaver Scheme
      • Kernel KiwiSaver Review
      • Kiwi Wealth KiwiSaver Scheme
      • kōura Wealth KiwiSaver Review
      • Lifestages KiwiSaver Scheme
      • MAS KiwiSaver Scheme
        • MAS Review
      • Mercer KiwiSaver Scheme
      • Milford KiwiSaver Plan
      • New Zealand Defence Force KiwiSaver Scheme
      • Nikko AM KiwiSaver Scheme
      • Pathfinder KiwiSaver Review
      • QuayStreet KiwiSaver Scheme
      • Simplicity KiwiSaver Review
      • Summer KiwiSaver Scheme
      • SuperLife Review
      • Westpac KiwiSaver Scheme
    • KiwiSaver Calculators
      • KiwiSaver Calculator
      • KiwiSaver Returns Calculator
  • Business
    • Compare Business Loans
      • Business Line of Credit
      • Business Borrowing Options
      • Small Business Loans
      • Operating Leases
      • Finance Leases
      • Operating Leases vs Financing Leases
      • Prospa Business Loans Review
      • Bizcap Business Loans Review
    • Business Insurance
      • Public Liability Insurance
      • Business Interruption Insurance
      • Professional Indemnity Insurance
    • Business Credit Cards
    • Business Essentials
      • Money Saving Tips For Businesses
      • Get Debtors to Pay Overdue Invoices
      • Working Capital
      • Liquidations and Receiverships
      • Can't Make Payroll Guide
      • Buying out a Business Partner
      • Business Brokers
    • Business Calculators
      • Business Loan Calculator
      • ROI Calculator
      • IRR Calculator
      • Internal Rate of Return
      • Percent Off Calculator
      • Profit Margin Calculator
      • Current Ratio Calculator
      • Quick Ratio Calculator
    • Online Services
      • Domain Names
      • Trusted Web Designers
        • Auckland Web Designers
        • Hamilton Web Designers
        • Wellington Web Designers
        • Christchurch Web Designers
        • Tauranga Web Designers
        • Lower Hutt Web Designers
        • Dunedin Web Designers
      • Digital Identity Programs and Online Verification Tools
      • Social Media Influencer Marketing
      • PayPal NZ Account Fees
      • Paypal vs Stripe Review
      • Hnry Review
      • n3 Trade Card Review
      • Plain English Awards
    • For Startups
      • How to Start a Business in New Zealand
      • Raising Capital
      • Product Market Fit
      • Crowdfunding vs Bank Financing
      • Blackbird vs Movac
      • How to Become an Angel Investor
      • How to Raise Money from Angel Investors
      • Alternatives to VC Funding
      • Hiring for a Startup
      • VCFO (Virtual CFO)
      • New Zealand Startup and Founder Incubators
      • Expanding Offshore
      • New Zealand Invoice Template
      • Business Podcasts
  • MSD
    • Navigating Work and Income Benefits
    • Jobseeker Support Benefit Rates 2023 and 2024
    • Jobseeker Support Guide
    • Accommodation Supplement Guide
    • Disability Allowance
    • MyMSD
    • Community Services Card
    • Hardship Assistance - Urgent Costs and Living Expense Assistance
    • Loans for Unemployed
    • Working for Families Guide
    • Childcare Subsidies in New Zealand
    • NZ Superannuation in a Nutshell
    • Superannuation Rates 2023
    • Government Departments Helping New Zealanders Directly
    • COVID-19 Help
    • Food Grants Guide
    • Food Banks Directory
      • Food Banks Auckland
      • Food Banks Northland
      • Food Banks Hamilton Waikato
      • Food Banks Wellington
      • Food Banks Christchurch
  • Motoring
    • Buying and Selling a Car
      • Car Valuations
      • Buying a Used Car
      • Selling a Car
      • CarJam Review
      • CarJam vs MotorWeb Car Report Comparison
      • Top Cars that Hold Their Value
      • Vehicle Leasing
      • Car Registration in New Zealand
    • Everyday Driving
      • Costs of Owning a Car
      • 20 Ways to Make Driving Cheaper
      • Gaspy App Review
      • Parking Tickets
      • AA Membership Review
      • Best Car Batteries
      • Best Electric Cars
    • Warrant of Fitness
      • Guide to Warrant of Fitness
      • Warrant of Fitness Auckland
      • Warrant of Fitness Hamilton
      • Warrant of Fitness Tauranga
      • Warrant of Fitness Lower Hutt
      • Warrant of Fitness Wellington
      • Warrant of Fitness Christchurch
      • Warrant of Fitness Dunedin
  • Law
    • Wills Guide
    • Separation Agreements
    • Prenuptial Agreements
    • Divorce Guide
    • Trusts Guide
    • Enduring Power of Attorney Guide
    • Living Wills Guide
    • Probate
    • Agreeable Review
    • Footprint Online Wills Review
    • Perpetual Guardian
  • Job Hunting
    • Job Applications
      • CV Templates & Tips
      • Cover Letters
      • Common Interview Questions
    • Guides & Resources
      • How to Improve Your LinkedIn Profile
      • Part-Time Jobs Guide
      • Redundancy Payouts and Entitlements
      • How to Get Promoted
      • Self-Employment Guide
      • Workplace Bullying
    • Recruitment Agencies
      • Recruitment Agencies Auckland
      • Recruitment Agencies Wellington
      • Recruitment Agencies Christchurch
  • Travel
    • How to Get Access to Airport Lounges
    • Flybuys Review
    • Fastest Way To Earn Air NZ Status Points
    • How to Redeem Air New Zealand Airpoints Dollars
    • Air New Zealand Koru Membership Review
    • Air New Zealand Travel Tips
    • Air NZ Upgrade Guide
    • Airpoints Flexipay Guide
    • No Nonsense Upgrade Guide
    • Cheap Domestic Flights
    • Car Rental Hire
    • Auckland Airport Car Parking
    • First Table Guide
    • Accor Plus Review
    • Queenstown Like a Local
    • Auckland Travel for Less
    • Hotel Booking Sites Compared
    • 100+ Free Things to do in Auckland
    • Layby Flights Guide
    • Airbnb Refunds (Coronavirus)
    • Air New Zealand Refunds & Credits
    • Google Flights Guide
    • Skyscanner Guide
    • Working Holiday Visas
    • Currency Converter
    • Qatar Airways Travel Tips
    • Foreign Currency Exchange
      • Australian Dollars Exchange Rate
      • American Dollars Exchange Rate
      • British Pound Exchange Rate
      • Canadian Dollars Exchange Rate
      • Euro Exchange Rate
      • Fijian Dollars Exchange Rate
      • Hong Kong Dollar Exchange Rate
      • Korean Won Exchange Rate
      • Indian Rupee Exchange Rate
      • Japanese Yen Exchange Rate
      • Malaysian Ringgit Exchange Rate
      • South African Rand Exchange Rate
      • Singapore Dollars Exchange Rate
      • Thai Baht Exchange Rate
      • Chinese Yuan Exchange Rate
  • Broadband
    • Compare Broadband Plans
    • No Contract Broadband
    • Rural Broadband Plans
    • Internet Speed Test
    • Broadband Provider Reviews
      • 2degrees Broadband Review
      • Bigpipe Broadband Review
      • Compass Broadband Review
      • Contact Broadband Review
      • Electric Kiwi Broadband Review
      • Farmside Broadband Review
      • Flip Broadband Review
      • Mercury Broadband Review
      • MyRepublic Broadband Review
      • NOW Broadband Review
      • One NZ Broadband Review
      • Orcon Broadband Review
      • Spark Broadband Review
      • Skinny Review
      • Slingshot Broadband Review
      • Starlink Review
      • Voyager Broadband Review
      • Wireless Nation Broadband Review
  • Power
    • Compare Power Companies
    • Power and Broadband Bundles
    • How to Lower Your Power Bills
    • Fixed Contracts vs Open Power Plans – What You Need to Know
    • Electric Vehicle Power Plans
    • How to Use Less Power
    • Power Companies
      • Contact Energy Review
      • Ecotricity Review
      • Electric Kiwi Review
      • Flick Electric Review
      • Frank Energy Review
      • Genesis Energy Review
      • Globug Review
      • Mercury Review
      • Meridian Energy Review
      • Nova Energy Review
      • Powershop Review
      • Z Energy Power Review
  • Financial Independence
    • FIRE Guides
      • Retirement in a Nutshell
      • How to Retire Early
      • FIRE Explained
      • The Four Percent Rule
      • Achieving Financial Independence, Faster
      • Five Types of FIRE Plans
      • Getting FIRE’d in New Zealand
      • FIRE and NZ Real Estate
    • FIRE Tools
      • Budgeting Apps
      • Debt Repayment Apps
      • Free Financial Literacy Classes
      • Free Financial Products
      • 50/30/20 Budget Calculator
      • Budget Planner
    • Tax
      • Beginner's Guide to Tax
      • Salary Sacrifice in New Zealand
      • Tax Bracket Creep
      • Tax Refunds
    • Money Tips
      • 20 Things to Stop Buying to Have More Money
      • 20 Indicators You're Doing Well Financially
      • 20 Must-Know Money Lessons (Learned From Experience)
      • 20 Money Habits that Keep You Poor
      • Saving on Household Bills
      • Debt Help
      • CAP (Christians Against Poverty) Review
      • Debtfix Review
      • Getting into Debt to Meet Short Term Living Costs
      • How to Survive a Recession
      • Average NZ Salary by Age
      • How to Maximise Income in Retirement
      • How to Handle Rising Interest Rates
      • Free Money from the Government
      • Bankruptcy Guide
      • Unclaimed Money in New Zealand
      • Financial Planning for Children With Disabilities
      • Should I Stop Contributing to KiwiSaver?
      • Teaching Kids About Money
      • Single Parenting and Money
      • How to Protect Your Finances from Inflation
      • Impacts of Inflation in New Zealand - 2022 and Beyond
      • Tips for Families on a Single Income
      • Side Hustles
      • Charities in New Zealand
      • Lending Money to Friends & Family
      • Guarantors - Loans and Mortgages
  • Trade & Professional Services
    • Auckland Trade & Professional Services
      • Acupuncture Auckland
      • Arborists Auckland
      • Asbestos Removal Auckland
      • Auto Electricians Auckland
      • Bathroom Renovations Auckland
      • Builders Auckland
      • Building Inspectors Auckland
      • Cabinet Makers Auckland
      • Car Detailing Auckland ​
      • Catering Auckland
      • Cattery Auckland
      • Chimney Sweep Auckland
      • Chiropractors Auckland
      • Cleaners Auckland
      • Computer Repair Experts Auckland
      • Concreters Auckland
      • Dentists Auckland
      • Dog Boarding Kennels Auckland
      • Dog Daycare Auckland
      • Dog Grooming Auckland
      • Dry Cleaners Auckland
      • Electricians Auckland
      • Eyelash Extensions Auckland
      • Firewood Auckland
      • Flooring Companies Auckland
      • Fridge Repair Auckland
      • Garage Door Repair Auckland
      • Glaziers Auckland
      • Graphic Design Auckland
      • Gutter Cleaning Auckland
      • Gym Memberships Auckland
      • Hair Salons Auckland
      • Heat Pump & AC Specialists Auckland
      • Home Security Systems Auckland
      • Korean BBQ Auckland
      • Land Surveyors Auckland
      • Landscapers Auckland
      • Lawn Mowing Services Auckland
      • Locksmiths Auckland
      • Mechanics Auckland
      • Makeup Artists Auckland
      • Naturopaths Auckland
      • Optometrists Auckland
      • Painters Auckland
      • Panel Beaters Auckland
      • Personal Trainers Auckland
      • Pest Control Auckland
      • Plumbers Auckland
      • Podiatrists Auckland
      • Puppy School Auckland
      • Roofing Auckland
      • Scaffolding Auckland
      • Screen Printing Auckland
      • Solar Panels Auckland
      • Quality Tyres Auckland
      • Wedding Car Hire Auckland
      • Wedding Celebrant Auckland
      • Wedding Photographers Auckland
      • Wedding Videographers Auckland
      • Window Tinting Auckland
    • Wellington Trade Services
      • Arborists Wellington
      • Bathroom Renovations Wellington
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Bankruptcy in New Zealand - The Definitive Guide

If you're considering filing for bankruptcy, our guide explains everything you need to know, the pros, the cons and must-know facts

Bankruptcy Guide NZ
Updated 9 June 2021
If you are suddenly unemployed or unable to pay your debts and your finances can become unmanageable, bankruptcy is one of three insolvency options available. This guide is dedicated to outlining bankruptcy, but we do explore the other options.

Bankruptcy, as severe as it is, is sometimes a necessary step to getting your life back on track. For those with overwhelming debts and financial burdens, New Zealand law offers an opportunity for a fresh start.

Know this: The decision to file bankruptcy will relinquish ownership of a
ny sizeable assets, but not your normal household goods. You can still keep your car as long as worth no more than $6,000.  The Insolvency and Trustee Service will not automatically take other items as they look at each application on an individual basis.  You have to declare if you have any goods worth more than $3,000 individually – a piece of jewellery, artwork, etc.  You are not permitted to have more than $1,200 in all your bank accounts at the time of applying.

Bankruptcy may not be the most suitable option in every situation - we explore Debt Repayment Order (DRO) and No Asset Procedure (NAP).
However, this guide focuses on bankruptcy, its pros, cons and everything essential to know about the process.

This guide is designed to assist you with understanding bankruptcy in New Zealand and deciding if this option is right for you. We look at the risks, pros, cons and long-term effects of filing for bankruptcy. This guide covers:
  • Is Bankruptcy the Right Decision?
  • Steps to take BEFORE Filing, and how to File for Bankruptcy
  • Must-Know Facts About Bankruptcy and New Zealand Law
  • Bankruptcy FAQs
  • Pros, Cons, and the Bottom Line
Explore Your Options

Bankruptcy Guide NZ

Is Bankruptcy the Right Decision?

Before filing for bankruptcy, keep in mind that:
  • Filing for bankruptcy can have life-changing implications and will require you to surrender your certain assets to a representative of the courts, known as the Official Assignee, who will distribute their value to cover your debts.

Know This: The Official Assignee: what is it and what is their role in the bankruptcy process? 
  1. The Official Assignee is part of the New Zealand Insolvency and Trustee Service, who provides debtors with information about bankruptcy and other insolvency options.
  2. If you become bankrupt, the Official Assignee acts as trustee, administering the debts you incurred up to the time of your bankruptcy.
  3. Once you are declared bankrupt, your creditors then deal with the Official Assignee rather than with you, the bankrupt person.
 
Before proceeding to bankruptcy, consider other options:
  • You can file for bankruptcy if your debts total more than $1,000. But, if you owe less than $50,000 (not including a student loan), you may have an alternative to bankruptcy in the form of a Debt Repayment Order (DRO). Find more information on filing for a DRO here.
  • If you have no assets, you can file for a No Asset Procedure in lieu of bankruptcy. For more information on a No Asset Procedure, click on the NAP summary here.  
  • If you owe more than $50,000 and/or have other reasons, bankruptcy may be the most suitable option.

Which option is best?
  • When considering bankruptcy (or an alternative), you must complete a Statement of Affairs and submit it to the Official Assignee.
  • You will need to state which type of insolvency you are applying for at the time you submit your Statement of Affairs. The Official Assignee may back with another option they think could be better suited to you.
  • Once received, The Official Assignee assesses the information submitted and will offer advice and assistance about which insolvency option is the most appropriate for your circumstances.
  • What option is taken will depend on the size of your debts, the background of the debts, your assets and previous bankruptcy or insolvency history, and your reasons for applying for bankruptcy.

​Important:
  • Bankruptcy will negatively impact your credit rating and will remain on your credit file for seven years, which will make it very hard for you to obtain any substantial loans through banks and lender companies.
  • You will be “bankrupt” for three years, during which time you will face numerous financial restrictions such as the type of possessions you’re allowed to have, how much cash you’re allowed to have, and the maximum value of your belongings. You will be discharged from bankruptcy after three years, or possibly earlier in the case of an application to the High Court.
  • Only upon being released from bankruptcy will you be debt-free.

Our view: The benefits to a person who been insolvent far outweigh the limitations. Very few employers have a clause in the employment agreement regarding insolvency – this is only usually reserved for people handling money, transactions, in a place of trust etc.
Learn more at insolvency.govt.nz
Explore Your Options

Bankruptcy NZ Procedure

Steps to take BEFORE filing for bankruptcy

Before filing for bankruptcy, you should exercise all possible alternatives to securing your financial stability, which may include:
  1. Selling your assets yourself: If you have any assets that can be sold, you should consider doing so before filing for bankruptcy. Remember, bankruptcy may cause you to surrender all non-essential assets valued over $3,000, which may include any valuable possessions, your home equity, savings, and a vehicle worth more than $6,000 — leaving you only with life and work essentials.
  2. Minimise your budget: You may be able to stave off a looming bankruptcy by budgeting accordingly and removing non-essential expenses from your life. This can include everything from lifestyle purchases to daily expenses that you can simply go without. 
  3. Create a creditors’ pool: In some cases, some or all of your creditors may be willing to cooperate and create a unified payment structure that is affordable and keeps you from going bankrupt. You can talk to the Citizens Advice Bureau about working with creditors. Our debt help guide has more details. This is similar to debt restructures, which help fomalise your obligations and give you a framework to make repayments. Be aware, there is risk because all creditors have to agree, and they can withdraw it at any time.
  4. Seeking help from budgeting professionals: Our debt help guide explains this in detail. 
  5. Get a Debt Repayment Order (DRO): In the case of debts totalling less than $50,000, you may be able to arrange a payment structure that grants more time to pay your debts and allows you to avoid bankruptcy. More information can be found here. A DRO is done through a supervisor and the Insolvency and Trustee Service.  It is a popular alternative to a NAP and bankruptcy as it allows people to pay off their debt over 3 years (can be up to 5) but at a rate they can afford with no interest, fees or charges incurring over that time.
  6. Receive free legal advice on bankruptcy: Speak with financial professionals who can help you assess your bankruptcy terms, and decide if this process is necessary or can be avoided. Seek out free legal advice through government channels in your municipality or try helpful community services such as Budget Advisors (Financial Mentors) and Community Law.

Know this: Debtors without assets can apply for a No Asset Procedure (NAP), which is an alternative to bankruptcy and offers fewer restrictions and a shorter time period in comparison. It lasts for one year and your total unsecured debts (not including student loan) needs to be under $50,000. Learn more about NAPs here.

How to File for Bankruptcy - Three Must-Know Steps

To file for bankruptcy under New Zealand law, you will need to do the following:
  1. Review the application checklist and follow its instructions: More information on the bankruptcy checklist can be found here.
  2. File a bankruptcy debtor’s application: You can do so at a local court or online (you need to have a RealMe account in order to be able to submit an application online) via the New Zealand Insolvency and Trustee Service, found here.
  3. Await the decision: Once your application is submitted, the Official Assignee will approve or reject it, typically within ten working days. ​
Explore Your Options

Bankruptcy Guide

10 Must-Know Bankruptcy Facts

Our must-know facts outline the small but important details to be aware of before filing for bankruptcy.
Bankruptcy Guide

You can file for bankruptcy as a debtor — or you can be forced into bankruptcy by a creditor

Being late on enough debt payments can be grounds for a creditor (i.e. bank, loan company, credit card issuer) to file a bankruptcy application on your behalf. By the time you find out you’re being pushed into bankruptcy, it may be too late.

To avoid this, it's best to stay in touch with your creditors, and if necessary, file for bankruptcy yourself. This gives you more control around the initial stages of the process.
Bankruptcy Guide

Your bankruptcy will be public knowledge among your service providers — and they can act on it

Once you’re declared bankrupt, your service providers will learn about it. This means that companies who control your utilities such as power and gas as well as insurance, telephone, and internet providers can choose to terminate or place restrictions on your account.

However, with regards to keeping up to date with your current power, phone, internet, utilities provider – so they are not listed as a creditor in your SOA, you will probably be able to keep them as your provider.  Discussing this issue with the Dunedin Budget Advisory Service, their team confirmed that "no utilities provider has stopped services to an insolvent client who does not owe them money" in their experience.

This
 Stuff.co.nz article explained that bankrupted people struggle to open a bank account in some cases. We believe you would only struggle to open a bank account if you owe Kiwibank and The Co-operative Bank money, as both these two banks take insolvent customers. These banks also keep bank accounts open once they discover a customer is insolvent.

​Insolvency and Trustee Services will allow you to control all of your day-to-day budgeting and living costs, but your spending is closely monitored. They might get you to make regular payments to your lenders. If you inherit money, win a prize or get a pay rise, you must tell your supervisor. This money will go towards your debt. However, you will only need to contribute towards your bankruptcy if your budget and/or bank statements show a considerable surplus.
Bankruptcy Guide

Bankruptcy can make it hard to find a new job

Some businesses may consider your bankruptcy a liability and be unwilling to hire you. ​Furthermore. you must get permission from ​Insolvency and Trustee Services if you wish to:
  1. Take part in the management or control of any business (this includes if you file your own taxes, ACC levies or workplace insurance, or if you’re responsible for meeting any regulations, e.g. health and safety requirements)
  2. Be self-employed or employed by a relative or a relative’s business.
Bankruptcy Guide

You will be assigned a new IRD number, and your tax refunds are considered assets

Once you are approved for bankruptcy, you will receive a new IRD number, and your old number is voided. It will be necessary to update your personal information at work and at your bank once you have received a new IRD number. 
Bankruptcy Guide

If you have a business, it is considered an asset and will be sold and your business partnerships dissolved

Along with your business assets, any partnerships you are currently in will be dissolved, and the value of your share sold to cover your debts. Whether your share can be sold to your business partner or not will be determined by the Official Assignee.

As Insolvency.govt.nz explains:
  • If one partner becomes bankrupt, the partnership is automatically dissolved. Only the non-bankrupt partner(s) can continue to deal with the partnership assets and debts. The bankrupt person cannot continue to be involved.
  • If all partners become bankrupt, the partnership is dissolved and all assets and debts of the partnership are dealt with by the Official Assignee.
Bankruptcy Guide

There will be restrictions against running a business, being self-employed, and working at a family business

During bankruptcy, you will need special permission to enter a managerial position, work for yourself, or join a business owned by family members. 
Bankruptcy Guide

You must disclose any inheritance or prize winnings during bankruptcy to your Official Assignee

If you receive an inheritance, win prizes, or win a lottery during bankruptcy, your Official Assignee will determine if some or all of their value will be used to repay your debts. It is an offence not to notify them of such money being received. The Official Assignee may take all or some of the money to help repay your creditors.
Bankruptcy Guide

Your KiwiSaver balance is safe from bankruptcy — unless you touch the money

If you absolutely need to withdraw money from your KiwiSaver account during bankruptcy, talk to your Official Assignee about the implications involved.

Any money withdrawn from your KiwiSaver account during bankruptcy may be subject to your creditors. While you will still be able to make payments into your KiwiSaver or retirement fund during bankruptcy, your Official Assignee will determine if those payments can be seized to repay your debts.

Bankruptcy Guide

Your right to take legal action will be given to the Official Assignee when bankrupt

If you wish to make a claim during bankruptcy, it will be up to the Official Assignee to permit legal action. Make sure to inform them of any litigation you may be involved in, are considering, or of which you might be the subject​ during bankruptcy. 
Bankruptcy Guide

Completing a Statement of Affairs is the FIRST STEP and ONLY starting point to determine what option is the best for your situation

It's best not to be fixated on bankruptcy as the only option - in many cases, bankruptcy can be avoided altogether. Completing a Statement of Affairs is the best starting point - while lengthy and detailed, it provides a comprehensive assessment of your financial situation. 

Additional help:
  1. This Statement of Affairs form can be completed online at insolvency.govt.nz which will speed up the receipt of your application and potentially result in an earlier discharge (should you be declared bankrupt)
  2. You can call the government's Service Centre on freephone 0508 467 658 for help completing the form
  3. To complete the form, get all of your important documents handy – eg bills, payslip, passport, IRD number, bank statements, policy documents, business records, etc.
Learn more at insolvency.govt.nz
Explore Your Options

Bankruptcy Guide NZ FAQs

Bankruptcy Frequently Asked Questions

Bankruptcy is not a standard life event, and its effects are wide-reaching. Our list of FAQs below helps to reassure and explain what happens in everyday life.

Will I lose my job due to bankruptcy?

There are currently employment laws in place that offer protection from termination due to bankruptcy. Any reason for dismissal must have substance, and the process of termination must be fair. If termination occurs as a result of your bankruptcy, you may be able to pursue a legal course of action with the assistance of community lawyers.

Does bankruptcy clear me of all my debts?

Bankruptcy will address the majority of your debts that exist prior to going bankrupt. Some debts may remain after bankruptcy, such as child support payments, court fees, and traffic fines. Bankruptcy does not cover any debts incurred after approval.

What happens with taxes when you're bankrupt?

Once bankrupt, your financials will be under the control of the Official Assignee, and you will be discharged of your tax debt, which does not include child support or fraud debt.

Your tax refunds will be considered assets and may be used to repay your creditors. You will need to keep filing tax returns under your new IRD number, and the Official Assignee will receive your returns until you are discharged.

For more information on taxes during bankruptcy, visit the IRD's dedicated page.

What about student loan debt?

Bankruptcy will relieve you of your student loan debt, and you will no longer be required to make payments. However, you will be unable to apply for a student loan during bankruptcy, and the procedure will also affect your credit rating — which can make receiving a new student loan quite difficult. This Stuff.co.nz article explains bankruptcy and how it affects student loans in detail.

Will creditors still be able to come after me when I’m bankrupt?

When you are bankrupt, any pre-existing creditors will receive a cease-and-desist order from the Official Assignee, who will be in control of your finances and manage a payment structure for the purpose of repaying your creditors. It is illegal for creditors listed in the SOA to pursue debt during and after an insolvency. There seldom is a payment structure for bankruptcies as the debt is wiped. However, this does not apply to any new debts incurred during or after bankruptcy (i.e. those not on the SOA).

Will my retirement funds be protected from bankruptcy?

Protection over retirement funds extends to your KiwiSaver scheme and any accounts deemed eligible by the Official Assignee. Any other investment and retirement funds may be considered assets and subject to debt collection. Any money withdrawn from your KiwiSaver account during bankruptcy, i.e. under a hardship application, may also be considered an asset and can be used to repay your debts. 

How does bankruptcy affect joint accounts and joint assets?

Joint accounts are typically closed as a result of bankruptcy, and any joint assets may be liable for covering your debts. If you have joint debt with a partner and are considering bankruptcy, you should speak with a professional about what to do next. You can find more resources for government and legal advice here.

Can I travel when bankrupt?

During your bankruptcy term, you will not be allowed to leave New Zealand without special permission from the Official Assignee. You will be able to resume normal international travel when you are discharged, typically after three years of being approved for bankruptcy.

Permission can be granted under compassionate grounds, of if the travel was pre-arranged, a pre-paid holiday or a holiday which can be proven was gifted to you, i.e., you didn’t pay for it.

Bankruptcy Guide NZ

Bankruptcy - Pros and Cons, and the Bottom Line

Bankruptcy is a mixed bag and, for the most part, has considerable downsides. We outline the pros and cons below, and provide a summary of what you need to be aware of before proceeding. 

Bankruptcy 
Pros:
  • Bankruptcy relieves the majority of your outstanding debt, offering you the chance to start over
  • Bankruptcy allows you to keep your KiwiSaver funds (unless you specifically withdraw them under a hardship application)
  • The alleviation of stress of creditors demanding money you don’t have is a great weight off people. Mental health frequently improves once someone becomes insolvent and the pressure and worry is gone.
  • Bankruptcy is turbulent, but it does allow you to work and lead a normal life without the debt obligations

Bankruptcy Cons:
  • Bankruptcy is all-encompassing - you have to relinquish all of your non-essential assets, you may lose your house (if you own it), as well as your vehicles and other assets
  • Your credit score will drop as bankruptcy is added to your credit history (but this cannot be accessed publicly). Also, the increased use of positive credit reporting will help restore your credit score after your are discharged from insolvency, although this is still only a voluntary option for creditors and utilities providers.​
  • Your bankruptcy will be public information, reported on the Insolvency Register
  • You will have financial restrictions imposed on you, such as limited opportunities to open a bank account, obtain a credit card or phone plan etc.
  • You may find it hard to get a new job
  • You will be unable to travel overseas without permission

The Bottom Line
  • Bankruptcy is an often-stigmatised term because of its financial implications, but it can be a light at the end of the tunnel for many who are completely overwhelmed by their debt.
  • Bankruptcy should always be considered a last resort — but a welcome one. We take the view that there’s no shame in having to file for bankruptcy and get a clean slate when you are simply out of options.
  • People that recover from bankruptcy often consider themselves wiser and more experienced, and go on to lead successful, more resilient lives.
  • If you are living through financial difficulties and bankruptcy is a growing possibility, it may be best to exercise the option sooner than later.
  • New Zealand has a supportive environment and there are many agencies with people with whom you can speak. They will offer (free) personalised advice that can help you overcome your financial hardships - the Citizens Advice Bureau and Community Law Centres are good starting points. 
  • The Christchurch-based Meetup Group, Debt Free for Life, also offers excellent information and its founder, Lisa Cowe, is widely reported in the media as a bankruptcy expert.
  • This excellent Bankruptcy and Insolvency guide is comprehensive and outlines the options available depending on your situation.
Learn more at insolvency.govt.nz
Explore Your Options

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  • Loans & Finance
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  • Banking & Savings
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    • Buying a Home
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  • KiwiSaver
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  • Business
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    • For Startups
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  • MSD
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  • Motoring
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  • Law
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  • Travel
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  • Broadband
    • Compare Broadband Plans
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  • Power
    • Compare Power Companies
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    • Power Companies
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  • Financial Independence
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      • Achieving Financial Independence, Faster
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      • Beginner's Guide to Tax
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    • Money Tips
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      • 20 Indicators You're Doing Well Financially
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      • 20 Money Habits that Keep You Poor
      • Saving on Household Bills
      • Debt Help
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      • Getting into Debt to Meet Short Term Living Costs
      • How to Survive a Recession
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      • Free Money from the Government
      • Bankruptcy Guide
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      • Financial Planning for Children With Disabilities
      • Should I Stop Contributing to KiwiSaver?
      • Teaching Kids About Money
      • Single Parenting and Money
      • How to Protect Your Finances from Inflation
      • Impacts of Inflation in New Zealand - 2022 and Beyond
      • Tips for Families on a Single Income
      • Side Hustles
      • Charities in New Zealand
      • Lending Money to Friends & Family
      • Guarantors - Loans and Mortgages
  • Trade & Professional Services
    • Auckland Trade & Professional Services
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    • Wellington Trade Services
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    • Christchurch Trade Services
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    • Hamilton Trade Services
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