Corporate

KiwiSaver funds face unrealised capital gains tax

Managed funds, including KiwiSaver schemes, will pay unrealised capital gains tax on changes in the value of the New Zealand and Australian shares if the recommendations of the Tax Working Group applying to portfolio investment entities is applied.

Such funds should be "taxed on their Australasian shares on an accrual basis," the TWG recommends, meaning tax would be payable or available for refund if a fund recorded gains or losses in

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