Update 18.08.2022

Please read the update on the new page "Cost of Living Payment". Pensioners who receive overseas pensions from Germany, France, the USA and a few other countries that are higher than NZ Super and have no other taxable New Zealand income, miss out on the Cost of Living Payment. This means that people who have an income of NZ$ 69,999 receive the Cost of Living Payment while pensioners who do not receive a cent of NZ Super and have to live on an overseas pension of about NZ$ 25,000 miss out. Be assured, we are very active in our attempt to effect a change of this policy.

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You might have read the news that the NZ government has urged people to send bank account details to IRD in order to receive the so-called “Cost of Living Payment”, and it does not only apply to people under 65 who earn less than NZ$ 70,000 per year.

I am hopeful that it works for pensioners who do not receive any NZ Super after the deduction of their overseas pensions as most of them fulfil all requirements:

1. They have earned less than NZ$ 70,000 in the last tax year

2. They do not receive the Winter Energy Payment (WEP)

3. They live in New Zealand.

I have been in touch with one of these pensioners who do not receive a cent of NZ Super because their overseas pension is higher than NZ Super. So far IRD has not rejected his claim and they now have his account details.

(Update 18 August 2022: IRD has now rejected his claim because he has no taxable New Zealand income!)

Thus I would encourage those of you who do not receive any NZ Super AND whose income has been under the $70,000 cap to do the same. You just need to do it NOW, as the first payment will be made this coming Monday.

The payment would be NZ$ 350, split up into three instalments.

If IRD doesn’t have your bank account details, update your details on the myIR website or call them on 0800 257 777.

In the last article I saw on the web they wrote there would be no waiting time.

Links:

https://www.stuff.co.nz/business/129400885/minister-urges-164000-people-to-take-action-to-get-cost-of-living-payment

https://www.newshub.co.nz/home/politics/2022/07/cost-of-living-payment-jacinda-ardern-urges-kiwis-to-ensure-ird-has-bank-details-david-seymour-seymour-calls-govt-incompetent.html

Update 18 August 2022

After the failed attempt to apply for the Cost of Living Payment with IRD, you best contact Revenue Minister David Parker and demand that the New Zealand government set up an application process for pensioners who do not receive the Winter Energy Payment because their overseas pensions are higher than NZ Super and come from the "wrong" country.