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Officials' advice

Taxation of Retirement Savings: Discussion Paper for Session 13 of the Tax Working Group

Issue date: 
Thursday, 20 September 2018
Version note: 

Prepared by Inland Revenue and the Treasury for the Tax Working Group and dated July 2018.

Other papers from this meeting: Meeting 13: 6 July 2018.

Other papers on this theme: Other.

This paper provides information on the taxation of retirement savings and follows on from the more general discussion on taxation of capital income in session 5.  It provides an overview of the regimes involved in taxing savings – income tax, portfolio investment entity (PIE) tax, and KiwiSaver.  It discusses anomalies in how the portfolio investment entity (PIE) tax rates are determined and a number of issues related to private savings and investment decisions and how taxation could influence those.  It raises for consideration changes in the PIE tax rates and some specific changes to taxation of KiwiSaver funds. 

Last updated: 
Monday, 17 September 2018