Parker quietly tables proposed $225m KiwiSaver tax

Revenue minister David Parker, tapping into KiwiSaver balances. (Image: Getty)

Tue, 30 Aug 2022

Levying GST on KiwiSaver and managed funds fees could slice $186 billion from New Zealanders' saving balances by 2070.A proposal to add 15% GST to services supplied by investment managers to managed funds and retirement schemes was introduced to Parliament on Tuesday by revenue minister David Parker, under the Taxation (Annual Rates for 2022-23, Platform Economy and Remedial Matters) Bill.In a briefing paper to Parker, the Inland Revenue Department (IRD) has proposed repealing an existing GST exemption for the management of a retirement sch...

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