The Government's plan to impose GST on KiwiSaver fees is being labelled by some as a tax grab.
The move, which would kick in from April 2026, will give the Government an extra $225 million a year.
Modelling suggests it will raise fees and mean $103 billion fewer saved in accounts by 2070.
KiwiSaver provider Koura Wealth Managing Director Rupert Carlyon told Mike Hosking there's no need to do this.
He says there's no real reason to do this, but for some reason they've decided this is any easy way to make another couple of hundred million dollars a year.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
Are You A Charlotte?
In 1997, actress Kristin Davis’ life was forever changed when she took on the role of Charlotte York in Sex and the City. As we watched Carrie, Samantha, Miranda and Charlotte navigate relationships in NYC, the show helped push once unacceptable conversation topics out of the shadows and altered the narrative around women and sex. We all saw ourselves in them as they searched for fulfillment in life, sex and friendships. Now, Kristin Davis wants to connect with you, the fans, and share untold stories and all the behind the scenes. Together, with Kristin and special guests, what will begin with Sex and the City will evolve into talks about themes that are still so relevant today. "Are you a Charlotte?" is much more than just rewatching this beloved show, it brings the past and the present together as we talk with heart, humor and of course some optimism.