Te Pati Maori's plans to garner more tax from the wealthy could risk having the opposite effect
Te Pati Maori's plans to garner more tax from the wealthy could risk having the opposite effect
28 July 2023
The party's pitching a wealth tax regime, ranging from two percent on net wealth over two-million-dollars to eight percent on wealth over 10-million.
It's also campaigning on a new foreign companies tax, and levies for land-bankers and investors keeping their properties empty.
Findex's tax managing partner, Jarod Chisholm , says there'll be an impact from picking on the wealthy.
He says they're the people best placed to move countries and will ultimately leave, which will drain tax because they're already paying the majority of it.
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