New Zealand's Inland Revenue clarifies GST rules for fund managers; key changes and impact on KiwiSaver

Inland Revenue clarifies GST rules for fund managers, impacting KiwiSaver and other funds. From April 1, 2026, core fund management services will be GST-exempt, while outsourced administrative services will be taxable. The guidance addresses compliance complexities and gives fund managers time to adjust. The 2022 proposal to apply GST to all management fees faced backlash.