Govt warned 'tread softly because you tread on my savings'

Govt warned 'tread softly because you tread on my savings'
The govt's U-turn on taxing KiwiSaver fees shows the dangers of politicians meddling in people's savings (Image: Getty)
Frances Cook
If the government genuinely thought people wouldn’t mind an extra tax on their KiwiSaver, they probably wouldn’t have tried to make the change as quietly as possible.As it was, news that GST would increase on managed funds and KiwiSaver fees didn’t even get a press release, never mind a press conference.Just a quiet change in the proposed Taxation (Annual Rates for 2022-23, Platform Economy, and Remedial Matters) Bill. Fascinating stuff, that thankfully reporters trawled through anyway.The backlash was so swift and so furious,...

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