IRD seeks feedback on fees
Wednesday, November 4th 2015, 6:00AM
IRD says it has reached an initial view that fund management fees should be GST-free – which could make life harder for some managers.
The department said it had not made a final decision but was asking interested parties for comment.
Feedback on the proposal is to be provided by the end of this month and a discussion paper will be sent out for public consultation.
At present, 10% of funds management fees attract GST.
If fees were GST-free it would reduce managers’ ability to claim GST payments made to other suppliers.
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