Q: I have $40,000 in my balanced KiwiSaver account with the BNZ. I turn 65 next February and wonder if it would be better to withdraw the money then and put.
The group of seven nations, including the UK, US, and Japan, has published a plan to tackle tax avoidance. Under pillar one of the proposals, multinationals would be forced to pay more tax where they earn money, regardless of their physical presence. Under pillar two, a global minimum tax rate would be established, “starting” at 15 per cent, which would mean a bigger bill for multinationals parking profits in low-tax countries. The reforms could deal a blow to tax havens and level the playing field between the global tech giants and more traditional companies. The OECD estimates a worldwide agreement could raise between US$50 billion (NZ$69b) to $US80b a year.