27 Apr 2022

Tax bill won't work without changes to tax treatment - expert

From Morning Report, 8:17 am on 27 April 2022

A tax expert believes a proposed new bill aimed at creating a fairer, more transparent tax system won't work without other changes.

The "Tax Principles Act" would require regular reporting on the tax system, to determine how much lower the effective tax rate is for the wealthy.

Revenue Minister David Parker earlier told us the government effectively has no idea how much tax the wealthiest New Zealanders were paying.

Inland Revenue is collating previously unprocessed data on how much tax the country's wealthiest people pay.

PwC tax partner Geof Nightingale spoke to Corin Dann.