31 Aug 2022

Finanical Services Council criticises possible Kiwisaver change

From Morning Report, 6:12 am on 31 August 2022

The government plans to charge GST on top of Kiwisaver fees - as part of a tax bill introduced to Parliament.

It's estimated to bring in $225 million a year in tax from 2026, and is expected to have a massive knock on the amount of money in Kiwisaver accounts.

The bill has been criticised by the Financial Services Council, which describes it as "sub-optimal", coming in the midst of a cost of living crisis.

It's chief executive Richard Klipin spoke to Corin Dann.