Māori Party policy will result in less revenue from high wealth NZers

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?

Read more over at Breakingviewsnz