Government Attempting to Sneak in New Tax on KiwiSaver Fees
August 30, 2022
The Government is planning to charge GST on KiwiSaver fees, which would give it an extra $225 million a year in tax from 2026.
Modelling suggests this could also result in $103 billion less saved in KiwiSaver accounts by 2070, due to members losing more of their investment to fees, as a result.
“This is yet another tax grab by a Government that seems obsessed with dreaming up new ways to fleece New Zealanders of their hard-earned cash,” said National’s deputy leader, Nicola Willis.