The Fair Tax for Savers campaign - are savers over-taxed?
The Fair Tax for Savers campaign - are savers over-taxed (and if so, why)?
The Fair Tax for Savers campaign launched earlier this week is based on the proposition that income from at least two forms of savings is currently over-taxed. We examine this claim and the proposed solutions and conclude that the campaign:
• has a valid point regarding interest income, which deserves further consideration, and
• is really
seeking a tax concession on KiwiSaver income, rather than
addressing an over-taxation concern. Its proposal should be
debated on that basis.