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)

Mon, 12 Jun 2023

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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