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Kiwisaver provider: GST tax tidy up is quite brutal

Author
Newstalk ZB,
Publish Date
Wed, 31 Aug 2022, 11:00am
Photo / File
Photo / File

Kiwisaver provider: GST tax tidy up is quite brutal

Author
Newstalk ZB,
Publish Date
Wed, 31 Aug 2022, 11:00am

An attempt to tidy up the GST charged on different investment products.

The Government is planning to impose GST on Kiwisaver fees, which will give it an extra $225 million a year.

Kiwisaver provider Pathfinder's Chief Executive John Berry told Kate Hawkesby unfortunately for investors, the tidy up is quite brutal.

Modelling suggests it will raise fees and mean $103 billion fewer saved in accounts by 2070.

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