There's concern increasing the trust tax rate will sting everyday New Zealanders.
The rate will jump from 33 to 39 percent to align with the top personal tax rate from April - to clamp down on people dodging taxes through trusts.
But Deloitte tax partner Robyn Walker says there's around 400-thousand trusts in New Zealand.
She says there may be many New Zealanders with a marginal tax rate well below 39 percent, with assets held in trusts, now facing a higher rate.
Revenue Minister David Parker says the top five percent of trusts with some taxable income in 2021 accounted for 78 percent of all trustee income.
Robyn Walker joined Simon Barnett and James Daniels on the show.
LISTEN ABOVE
See omnystudio.com/listener for privacy information.
Popular Podcasts
CrimeLess: Hillbilly Heist
It’s 1996 in rural North Carolina, and an oddball crew makes history when they pull off America’s third largest cash heist. But it’s all downhill from there. Join host Johnny Knoxville as he unspools a wild and woolly tale about a group of regular ‘ol folks who risked it all for a chance at a better life. CrimeLess: Hillbilly Heist answers the question: what would you do with 17.3 million dollars? The answer includes diamond rings, mansions, velvet Elvis paintings, plus a run for the border, murder-for-hire-plots, and FBI busts.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.