Ground-breaking study shows the wealthy pay less tax

Ground-breaking study shows the wealthy pay less tax
Revenue minister David Parker says the findings do not mean immediate tax reforms. (Image: Getty)
Pattrick Smellie
The first serious attempt to show how failing to tax wealth skews the tax system against low and middle income earners shows wealthy New Zealanders pay tax at about half the rate of the average taxpayer.The headline finding of the Inland Revenue Department’s (IRD) two-year High-Wealth Individuals Research Project (HWIRP) is that the median effective tax rate paid by the 311 wealthy people in the survey is 8.9%, compared to an effective tax rate of 22% for a person earning $80,000 a year, with no other income, based on data from 2015 to 20...

More Economy

Monthly CPI tech takes Stats NZ into the future
Economy

Monthly CPI tech takes Stats NZ into the future

Budget funding for new inflation-reporting tech is a giant leap forward, agency says.

Maria Slade 27 Jun 2025
Corporates think NZ 's on the up: Forsyth Barr
Primary Sector

Corporates think NZ 's on the up: Forsyth Barr

The Pulse of NZ Business survey found construction and retail continue to lag.

Gregor Thompson 25 Jun 2025
S&P/NZX 50 Index opens down after US strike on Iran
Economy

S&P/NZX 50 Index opens down after US strike on Iran

NZD/USD also under pressure as investors seek safe haven. 

Rebecca Howard 23 Jun 2025