Photo: NZ HeraldNational Party leader Christopher Luxon says proposed new tax rules for KiwiSaver accounts "can't stand" and his party will push to stop the "retirement tax". National has started a petition on its website to stop the "KiwiSaver tax", Luxon told the AM show. Where there have been questions are around managed funds that aren't KiwiSaver funds," he said. These are funds that operate as savings and investment vehicles like KiwiSaver funds, but are not actually KiwiSaver schemes. This amount would increase by about 10 per cent a year as the economy and KiwiSaver funds grew.

Source: Otago Daily Times August 31, 2022 03:40 UTC