Tax can be confusing – it seems to have its own special language, and politicians have a habit of saying things quickly and authoritatively about it that might not make much sense. So let’s clear that up – and see how New Zealand stacks up. The biggest tax promise from a major party so far … Read more
New Zealand’s narrow tax base benefits the wealthy and punishes the poor, says taxation academic Jonathan Barrett – and neither major party seems to want to do anything about it. Ability to pay is the basic principle of tax fairness: people in a similar financial position should pay similar amounts of tax; people who can … Read more
Without a capital gains tax, taxing inheritances is the best opportunity to address the entrenched inequalities of inter-generational wealth, argues Jonathan Barrett. The world’s wealthiest people will transfer US$15.4 trillion in assets to their heirs in the next decade, according to a recent report. Published by specialist data analysts Wealth-X, the report focused on the … Read more
Good morning and welcome to The Bulletin. In today’s edition: Debate over leaving lockdown fires up, how the tax system could change after Covid-19, and concerns as cyclone bears down on Vanuatu. Over the last few days, a debate has started to fire up about leaving level four restrictions, and restarting some of the economic activity … Read more