Lies, damned lies and taxation: the trust rate change

Lies, damned lies and taxation: the trust rate change
Revenue minister David Parker launching the high wealth tax report last month. (Image: NZME)
Pattrick Smellie
Almost no one cares if wealthy people have to pay more tax, unless they’re wealthy themselves.So, there is no political downside in the budget announcement raising the tax rate to 39% on income earned through trusts.In a political environment primed by the release of Inland Revenue Department (IRD) analysis of high earners’ effective tax rates, the trust tax rate increase was, quite literally, the least that revenue minister David Parker could do to advance his desire to see tax levied more fairly.In the context of a total forecast...

More Policy

'There are some firms in NZ I won’t touch'
Policy

'There are some firms in NZ I won’t touch'

Adam Feeley on the reluctance to call out poor performers in NZ infrastructure sector.

Oliver Lewis 30 Jun 2025
Govt mandates high-rise zoning around key CRL stations
Policy

Govt mandates high-rise zoning around key CRL stations

Auckland Council will need to provide for building heights of at least 10-15 storeys.

Oliver Lewis 25 Jun 2025
Infrastructure Plan floats higher health, electricity spend
Policy

Infrastructure Plan floats higher health, electricity spend

Draft plan identifies priority projects and recommends transport system reform.

Oliver Lewis 25 Jun 2025
Infrastructure plan: 17 projects made it, 31 missed out
Policy

Infrastructure plan: 17 projects made it, 31 missed out

Rail, prison and ferry terminal projects excluded from infrastructure priority list.

Oliver Lewis 25 Jun 2025