Suspect you’re paying more tax? You are!

Suspect you’re paying more tax? You are!
A taxpayer’s average marginal tax rate goes up as their income rises. (Image: Getty)
John Cuthbertson
One very important projection in this year’s budget documents that has received very little media attention (when it really should have) is the significant growth in tax revenue projected over the forecast period out to 2026. Tax revenue is forecast to rise by $41 billion, from $97b in 2021 to $138b by 2026.That's a 42% increase.So, what is driving this herculean projection? After all, interest rates are rising and belt-tightening is expected, as consumers' discretionary spending is squeezed.And, did I mention that in line wi...

More Policy

Aukus pillar 2 a smokescreen for N-subs: ex-Oz foreign minister
Policy

Aukus pillar 2 a smokescreen for N-subs: ex-Oz foreign minister

Bob Carr says notion of tech role for New Zealand is “science fiction”.

Pattrick Smellie 18 Apr 2024
Aged care sector under 'extreme pressure', report details
Policy

Aged care sector under 'extreme pressure', report details

Report warns NZ's aged care sector could be short by 2032. 

Gregor Thompson 17 Apr 2024
RBNZ opens consultation on central bank digital currency
Economy

RBNZ opens consultation on central bank digital currency

Protecting monetary sovereignty is a key factor.

Rebecca Howard 17 Apr 2024
Business of Government: who benefits from restructuring, and more ...
Policy

Business of Government: who benefits from restructuring, and more ...

Our weekly round-up of public sector news and analysis.

Jem Traylen 17 Apr 2024