Breaking Views, summarised by Centrist
Let’s say you have $50 million of assets and you get a 6% return on those assets. Your income is $3 million a year.
Currently you pay income tax of $1,150,120. That leaves you $1,849,880. So their overall tax rate is 38%.
The Māori Party Policy taxes would be:
- Income tax of $1,395,900 or 47%
- Asset tax of $3,460,000 or 115%
- Total tax of $4,855,900 or 162%
Why would high wealth people stay in NZ?