Money, Currency and Banking
All major credit cards may be used for the purchase of goods and services. Travellers’ cheques are usually accepted at hotels, banks and some stores. Banks are open from 9.30am to 4.30pm Monday to Friday. Some banks are open in shopping malls on Saturdays, Sundays and public/statutory holidays.
Major international credit cards may be used to withdraw cash from automatic teller machines (ATMs) if encoded with a PIN number. ATMs are widely available across the country. Check with your bank whether this facility is available for your card(s) before you arrive in New Zealand.
Westpac Bank, www.westpac.co.nz, offers Beca employees special banking packages. Details can be provided before you arrive in New Zealand to assist with transferring money.
Some of our other major banks are: www.anz.com, www.nationalbank.co.nz, www.asb.co.nz, www.bnz.co.nz, www.kiwibank.co.nz, www.tsb.co.nz
Foreign exchange vendors can often transfer money at better rates of exchange than the banks. Check their rates and compare, especially if you’re considering large transfers. Some examples are: www.nzforex.co.nz, www.fxcm.com, www.worldfirst.com
Currency Rates
New Zealand’s unit of currency is the New Zealand dollar (NZ$). The dollar is divided into cents (100 cents = $1). Visit www.xe.com/ucc for information on currency calculations or contact your bank.
Tax
All goods and services in New Zealand are subject to a 12.5% Goods and Services Tax referred to as GST. This will normally be included in the displayed price.
For details on Income Tax please refer to www.ird.govt.nz.
Superannuation (Pension)
You will be eligible for New Zealand Superannuation if you:
- Are 65 years of age or over
- Are a New Zealand citizen or permanent resident
- Have lived in New Zealand for a certain amount of time
- New Zealand is your main place of residence.
For specific details visit www.newzealand.govt.nz and search 'superannuation'.
On 1 July 2007 a new voluntary savings scheme - Kiwisaver - was introduced. You can elect to have contributions deducted directly from your pay by your employer and passed to Inland Revenue which will administer the Kiwisaver initiative through the PAYE system. You elect a financial provider to manage your investment, which is locked in until you reach the New Zealand age of retirement. Visit www.kiwisaver.org.nz for more information.
Beca also offers a company superannuation scheme and you may like to discuss entry criteria for this during the interview process.