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RNZ News
23-05-2025
- Business
- RNZ News
Budget 2025: Sole trader feels 'ripped off' by government's KiwiSaver cuts
Wellington-based personal trainer Carl Rein says the government's KiwiSaver decision would affect him long-term. Photo: Supplied The budget move to halve the government's KiwiSaver contributions has been described as a blow to sole traders. The government contribution would be cut from $521 to just over $260 - provided there was a minimum of $1042 saved over a year, and those earning more than $180,000 would now miss out altogether. The government said this is to make sure the scheme's costs to the taxpayer "remain sustainable". Wellington-based personal trainer Carl Rein believed it would affect him long-term. "I'm in my 30s, so I've got at least 30-plus years to go before I'm even going to be able to access it," Rein said. "So all of that accumulated interest that I would benefit from later on, and it would give me greater security later on in life, is now not going to be there." Rein said the move made it "disheartening" to be involved in KiwiSaver, and he felt "ripped off". He was also concerned it opened the door for government contributions to become zero. Rein's comments came alongside criticism of the policy from sole trader tax platform Hnry. Hnry chief executive James Fuller says the government's decision posed risks to the country's sole traders. Photo: Supplied Hnry chief executive James Fuller said the government's decision posed risks to the country's 400,000 sole traders. "The danger is that sole traders switch off from KiwiSaver entirely and then potentially look at more risky ways to try and prop up the income they would have got from their retirement savings that the government was contributing to," Fuller said. "So, it leaves a lot of questions for sole traders as to where they put their money now that they know that the government isn't backing them to contribute to KiwiSaver," he said. Fuller said KiwiSaver was the wrong place to be looking for savings.
The Sun
14-05-2025
- Business
- The Sun
Nearly one in 5 traders feel lonely at work – with plumbers & electricians struggling the most, poll finds
NEARLY one in five tradespeople feel lonely at work – with plumbers and electricians struggling the most. A study of 500 sole traders who work in construction or utilities found 17 per cent also feel isolated while at work and 22 per cent feel overwhelmed. 2 A quarter of plumbers even claimed they spend as much as 90 per cent of their working day alone. A lack of social interactions (53 per cent) and long working hours (49 per cent) were the top contributors, with 40 per cent finding it difficult with sharing work-related concerns. But plumbers and electricians (both 20 per cent) were most likely to experience loneliness, with this dropping to 10 per cent for those in construction. It also emerged 65 per cent of plumbers often struggle with the business and admin side of the job, compared to just 54 per cent of those in construction. As a result, three quarters of plumbers confessed to feeling burnt out – more than any other profession polled. Daniel Martin, for Mira Showers, which commissioned the research and is aiming to support plumbers and installers, said: "It can be tricky to manage workload, especially for sole traders. "Long days at work and relying on a workforce of one can lead to a certain feeling of isolation and loneliness. "One of the biggest unseen factors in this, is when the physical job is done, there are still a lot of business and admin tasks left to do. "This can be overwhelming, especially given many tradespeople have no formal training for this side of the job, which increases their working day." The study also found 80 per cent of the tradespeople polled admit to feeling pressured to work more hours than they believe they should each day, with this rising to 82 per cent of plumbers and installers. 'survey reveals what your ice cream eating habits could say about your personality' Although 67 per cent of this profession enjoy being their own boss, this goes hand in hand with specific additional tasks away from the tools. Communicating with clients (46 per cent), managing invoices (45 per cent), and tax returns (45 per cent) are the most common additional jobs handled by solo workers. Almost half (49 per cent) teach themselves the skills for these tasks through research and learning, while 44 per cent rely on trial and error. Tax returns (18 per cent) cause the biggest headache for those plumbers and installers who take it on themselves. A cry for help is not uncommon across the board for trades, with 60 per cent admitting they have looked for support with this side of the job. However, a lack of budget to cover the cost (31 per cent) was the main reason stopping them in this pursuit. While 22 per cent were unsure where to even begin to look for the help they need. It also revealed 79 per cent of the plumbers polled, via OnePoll, wish they could spend more time with loved ones, but are too busy with work. With sleep quality (30 per cent), time for relaxation (28 per cent), and stress levels (28 per cent) among the other things that also suffer as a result of their busy schedule. Daniel Martin for Mira Showers added: "This research has confirmed a lot of what we already knew, especially within the plumbing and installing community. "The pressures of work for these, like many of us, have a wider impact on home and social lives. "Although this increases the feeling of loneliness, there are people and tools out there that can help lighten the load and make things more manageable. 'Through our online platform, InstallerPRO, we hope to provide plumbers with the advice they need to better balance their life, including tips on improved business acumen and healthier lunch choices.' KATE WATSON-SMYTH'S TOP TIPS TO HELP RENTERS EMBRACE THE SPACE AND EVERY CORNER OF THEIR HOME Swap harsh lighting for warm white LED bulbs to create a softer, more inviting atmosphere and save energy. Upgrade your shower head for better water pressure, efficiency, and a more enjoyable daily routine. Keep the old one so you can swap it back when you leave. Use your own curtains to personalize your space and add thermal lining for extra warmth and energy savings. Swap back before you go and use them again. Block draughts with homemade excluders that are easy to make, store, and hang when not in use. Hang art without damaging walls using picture rails or self-adhesive hooks for a renter-friendly personal touch. Work with unchangeable décor by matching existing features with coordinated accessories for a cohesive look. Soften your kitchen's look with tile stickers, new cabinet handles, and warm lighting like a countertop lamp. Remember to put the original handles back when you move out. Request a smart meter to monitor energy use in near-real time and manage your bills more efficiently. 2
