Kiwis over 65 lead jump in income from self-employment

Thursday 4th October 2012 2 Comments

Older kiwis may be less inclined to put their feet up, based on the latest quarterly income survey, which shows a jump in income for the self-employed aged 65 and above.

The median weekly income from self-employment for those aged 65 and above increased by $19 a week, or 5.3%, to $384, according to Statistics New Zealand's June quarter income survey. The proportion of that age-group getting income from self-employment rose to 7.5 percent from 6 percent.

For all New Zealanders surveyed, the median weekly income from all sources rose 1.8 percent to $560 and for those receiving income from wages and salaries, up 0.7 percent to $806. Median hourly earnings climbed 2.4 percent to $20.86.

The number of people receiving income from government transfers lifted 3 percent, with a 5 percent jump in the number of people aged 65+ being the main contributor to this rise.

The median weekly income from all sources for Maori was up 3.4 percent to $475, while the equivalent non-Maori increase was 2.7 percent to $575 a week.

Aucklanders had the highest median weekly income from paid employment at $863, and Wellington the second-highest at $850.

BusinessDesk.co.nz

Comments from our readers

On 4 October 2012 at 1:26 pm Conan said:

Older Kiwis are NOT "less inclined to put their feet up." They can't survive on the government superannuation.!Hence they carry on.

On 5 October 2012 at 10:08 am Don Rennie said:

Remember if you are an earner you are liable for ACC levy whatever your age but if you are receiving national superannuation and have an accident you cannot receive both ACC weekly compensation and national super - you must elect which you will receive. You can't have both although you have paid ACC levy.