The National-led Government has announced changes to its KiwiSaver legislation to ensure participants get a maximum tax credit of $1,040 irrespective of their income.
Under the original proposal, those on lower incomes who opted to save 4% of their income would not have been eligible for the full tax credit.
To help pay for the cost of ensuring everyone can get the full tax credit, the Government is scrapping the fee subsidy of $40 dollars a year.
