No Tax on KiwiSaver Earnings

A lifetime of work and saving should give you the freedom to enjoy retirement. Yet the Government takes a cut of your KiwiSaver earnings every year, leaving less of your money to grow for the years ahead.

ACT will reward saving by letting you keep those earnings. You’ll be able to build a bigger nest egg for the retirement you want, without giving up more of the pay you need today.

Try our calculator to see how much you'd save.

Read our full policy, No tax on KiwiSaver earnings, here.

ACT will:

• Remove tax on qualifying investment earnings inside KiwiSaver funds, allowing your returns to stay invested and grow tax-free.

• End the annual Government Contribution for members receiving employer contributions, replacing it with tax relief on their KiwiSaver earnings.

• Put safeguards in place to keep KiwiSaver focused on retirement saving and prevent it being used to shelter large existing investment portfolios from tax.

In our team’s word’s:

ACT Leader David Seymour says:

“Other parties want to force your money into KiwiSaver, then tax you. ACT says it should be your choice, but if you save for the future we will let you get the full benefit of compounding returns instead of taxing you every step of the way.

“Every time you get taxed on your earnings you don’t just lose that money, but all the future savings that would be compounded from it.

“A country builds wealth when more people own assets, have savings, invest in productive enterprise and have the confidence to think decades ahead."