There is support for removing the annual $521 KiwiSaver member tax credit to fund lower tax rates for the scheme, the Financial Services Council says. It has been lobbying for some time against what it says is preferential tax treatment for residential property investment compared to investment vehicles such as KiwiSaver. One of the suggestions […]
Category Archives: KiwiSaver Articles
Make tax an election issue: FSC
Tax on KiwiSaver should be an election issue this year, the Financial Services Council says. In comments prepared for the Retirement Policy Research Centre’s forum Retirement Income Policy: the future is now, FSC chief executive Peter Neilson said: “Only 8% of New Zealanders think they will be comfortable in retirement on the $282 a week […]
The Co-operative Bank joins KiwiSaver
The Co-operative Bank is to start distributing Fisher Funds’ KiwiSaver products even though rival bank TSB is a shareholder in the fund manager. The Co-oeprative Bank chief executive Bruce McLachlan says KiwiSaver is now a core banking product that had to be added to its offering to customers. After looking at the various offerings in […]
Case leaves bankruptcy questions unanswered
There are calls for a law change to provide clarity on what happens to a KiwiSaver account when someone is declared bankrupt. The High Court recently ruled that bankrupts’ existing savings in a KiwiSaver scheme are available to be distributed by the Official Assignee to creditors, but only after the KiwiSaver member qualifies to withdraw […]