Parker quietly tables proposed $225m KiwiSaver tax

Parker quietly tables proposed $225m KiwiSaver tax
Revenue minister David Parker, tapping into KiwiSaver balances. (Image: Getty)
Staff reporters
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...

More Law & Regulation

One NZ to ‘vigorously’ defend new ComCom charges
Law & Regulation

One NZ to ‘vigorously’ defend new ComCom charges

The regulator says claims of 100% coverage in 2024 may breach the Fair Trading Act.

Ben Moore 10:00am
RBNZ targeted for uncompetitive banking
Finance

RBNZ targeted for uncompetitive banking

Onerous regulation may be making banking uncompetitive, submitters argued.

ComCom still in talks with potential grocery disruptors
Retail

ComCom still in talks with potential grocery disruptors

The grocery commissioner said ComCom is "talking to a range of people".

Gregor Thompson 13 Nov 2024
Judge upholds $33m claim against Seascape developer
Property

Judge upholds $33m claim against Seascape developer

Work on Auckland's tallest building is likely to remain stalled well into 2025.

Maria Slade 12 Nov 2024