ACT Party proposes eliminating tax on KiwiSaver investment earnings

At a campaign event in Auckland, ACT Party leader David Seymour introduced a policy to eliminate tax on the earnings generated by KiwiSaver investments. He claimed that allowing returns to compound without taxation would increase the amount saved for future generations. The proposal also includes ending the KiwiSaver government contribution for participants who receive employer contributions, substituting it with the promised tax relief.

Seymour presented an example of a young worker who could save substantially more by retirement under the plan. The party said a fully costed fiscal analysis will be published later in the campaign. No specific cost figure was provided in the announcement.