The richest NZ families are taxed at less than half the rate of your average New Zealander, according to new research.
And the Green Party says the simple fix is a comprehensive capital gain tax. The IRD study looked at effective tax rates paid across full income and assets, including capital gains, property and businesses, trusts and shares, rather than salaries or wages alone.
Including personal, company, trustee tax and GST, the median effective tax rate for people worth more than $50 million is just 9.4 percent compared to more than 20 percent for middle wealth New Zealanders.
Green Party revenue spokesperson Chloe Swarbrick talks with Lisa Owen.
