Cooking The Books

Each week the NZ Herald and Newstalk ZB's Cooking The Books podcast tackles a different money problem. Today, it's the good and bad of a capital gains tax on your KiwiSaver. Hosted by Frances Cook.If you heard howls of outrage and a collective stamping of feet coming from your computer last week, it's not a technical glitch. You were probably logged in to social media as the announcement was made that the Tax Working Group recommended the Government bring in a capital gains tax. Basically if you buy something, it increases in value, and then you sell it for a profit, you pay tax on part of that profit. What that means for property investors has been truly thrashed already, and it's safe to say many of them have made it known that they don't like the idea. But there were other parts of the report that have been missed, that are very important for the average New Zealander to know about. For instance, proposed changes to how you KiwiSaver is taxed. Almost all of us have a KiwiSaver fund, certainly more of us th