Why do I pay tax on my KiwiSaver?

One of our listeners emailed us to say she was surprised to find out she was paying tax on her KiwiSaver account and horrified to realise she wasn't paying the right amount. She now owes money to the IRD. This week on No Stupid Questions with Susan Edmunds, we ask: what tax rate should you be paying on KiwiSaver, how will it affect your retirement savings, and is there a plan to amend the tax brackets? In this episode, our experts ask questions about: How will the tax I pay on KiwiSaver affect my retirement? What is fiscal drag? Should I keep contributing to KiwiSaver when my employer stops? What impact will the New Zealand Super Fund have on the affordability of New Zealand superannuation costs?? Why is our wine and lamb cheaper in the UK than it is here? If you have a money question you'd like Susan to answer, put it in an email or voice memo, then send it to [email protected]. Go to this episode on rnz.co.nz for more details