Greens propose wealth tax to pay for guaranteed minimum income and tax cut

Greens propose wealth tax to pay for guaranteed minimum income and tax cut
The Greens announced their tax policy at an event in Ponsonby on Sunday. (Image: Dileepa Fonseka/BusinessDesk)
Dileepa Fonseka
The Green party wants to bring in a wealth tax and a tax on trust assets and to levy one of the highest corporate tax rates among developed countries. The taxes would pay for a guaranteed minimum income and other measures targeted at middle-to-low-income earners, including a tax-free income threshold.Proposed changes to the tax system announced on Sunday by the Green party included:A 2.5% wealth tax on net assets of over $2 million for individuals (or $4m for families).A 1.5% tax on trust assets.An income-free tax threshold of $10,000.A 45...

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