The IRD has released a massive investigation into the share of tax that New Zealand’s wealthiest families pay.
The report suggests that the median effective tax rate for this group currently sits at 8.9% of their overall income.
This is less than half the percentage paid by the average New Zealander.
So why is there such large divide? What can be done to address this imbalance? And is it even possible to find the political will for a tax overhaul?
Today, economist and researcher at the Victoria University of Wellington, Max Rashbrooke explains to Damien what this report has revealed.
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You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network.
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