Scope of the employer superannuation contribution tax exemption
(Matter raised by officials)
The scope of the employer superannuation contribution tax exemption amended by the Taxation (Urgent Measures and Annual Rates) Act 2008 should be clarified.
This is a clarifying amendment to ensure that all employer contributions to KiwiSaver and complying superannuation funds, for members aged between 18 and 65, that were eligible to be exempt from ESCT up to the matching level of 2 percent before 1 April 2009 continue to be exempt from ESCT on and after 1 April 2009.
That the submission be accepted.