New top tax rate left open to avoidance, tax department warns

New top tax rate left open to avoidance, tax department warns
Pattrick Smellie
The government is foregoing extra tax revenue of $1.5 billion by leaving the tax rate on trusts at 33 cents in the dollar while raising the top personal income tax rate to 39 cents in the dollar, the Inland Revenue Department has warned.Its regulatory impact statement on legislation introduced today to raise the top tax rate from April 1 next year also warns that revenue estimates from the move are made more difficult because the government is creating a six-cents-in-the-dollar difference between the trust and personal tax rates.Revenue Ministe...

More Policy

NZTA appears to deviate from four-lane highway directive
Policy

NZTA appears to deviate from four-lane highway directive

NZTA proposes reduced scope highway designs, infuriating Horowhenua locals. 

Health NZ seeks ‘partnerships’ with major health contractors
Policy

Health NZ seeks ‘partnerships’ with major health contractors

The agency is establishing a major projects panel to tackle $6.4b pipeline.

Oliver Lewis 27 May 2025
The elephant in the room
Policy Opinion

Katrina Van Houtte: The elephant in the room

Budget 2025: Cross-parliamentary consensus is needed for infrastructure projects to flow. 

Budget 2025: 20% depreciation boost
Economy

Budget 2025: 20% depreciation boost

The initiative seeks to make capital investment more attractive.

Pattrick Smellie 22 May 2025