by Anthony Quirk
Tyndall applauds the Government’s proactive move in introducing an employer-based savings scheme called KiwiSaver.
The savings area has been ‘some time coming’ and has not been a key focus for previous governments.
“The proposed KiwiSaver package overcomes some of the major issues identified in the Harris Report, by offering a one-off $1,000 contribution to those who join.
“It will be interesting to see how KiwiSaver impacts on existing employer schemes. It may lead to the closure of existing schemes and potentially cause savings to drop.
“The ability for first home owners to access funds could result in a similar situation to that seen in Australia with the cost of lower valued homes rising to meet increased demand. In doing so, this would negate the benefits of offering such an incentive.”
Managed Funds
“Tyndall welcomes the removal of collective tax on managed funds, as it has long been seen by many as a tax disadvantage.”
This is a press release from Tyndall managing director Anthony Quirk.
Anthony Quirk is the managing director of Guardian Trust Funds Management.
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