If nothing else, the just released Inland Revenue study of the tax rates paid by the wealthiest New Zealanders should put to rest the notion we have a progressive tax system. We don’t.
A progressive system is one where higher earners pay more as their income grows. The report, commissioned by Minister of Revenue and Attorney-General David Parker, has revealed the country’s wealthiest are paying a median effective tax rate of 9.5% (including GST).
