79% want fairer savings taxes

79% of New Zealanders want lower taxes on their savings, according to independent polling for the Financial Services Council in June-July, 2014.

More than two million New Zealanders have funds in KiwiSaver.

More than 750,000 adults currently have term deposits.

While 79% want lower taxes on long-term savings investments only 2% oppose.

The Horizon Research survey of 2,188 respondents, representing the adult population nationwide (maximum margin of error +/- 2.1%) finds even stronger support for fair savings taxes among those with term deposits with 83% supporting (61% strongly support and 22% support).

• There is a clear view that taxes “need to be reduced to be fair”.
• The majority agree that lowering taxes on savings would be better for savers and New Zealand.
• 48% want their MP to vote for fairer savings taxes.

The FSC and campaign partners Age Concern, Consumer NZ and the Taxpayers' Union have launched a web site through which those wanting lower taxes can ask their MP and party leaders and finance spokespeople to change taxes.