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.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Popular Podcasts
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
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
The Clay Travis and Buck Sexton Show
The Clay Travis and Buck Sexton Show. Clay Travis and Buck Sexton tackle the biggest stories in news, politics and current events with intelligence and humor. From the border crisis, to the madness of cancel culture and far-left missteps, Clay and Buck guide listeners through the latest headlines and hot topics with fun and entertaining conversations and opinions.