Finanical Services Council criticises possible Kiwisaver change
Morning Report
English - August 30, 2022 18:12 - 5 minutes - 5.4 MB - ★★★★ - 11 ratingsNews Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: Most damaged section of State Highway 6 in Nelson reopening
Next Episode: Early Business News for 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.