A new report has revealed the country’s wealthiest are paying a median effective tax rate of 9.5 percent, including GST
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 percent (including GST).
This is less than half the tax paid by middle income earners at 22 percent, or nearly 30 percent if you include GST.
Credit: radionz.co.nz
