A tax expert says the Government's wealth report covers what we already know.

Inland Revenue's wealth report shows the top one percent of earners pay a median effective tax rate of 9.4 percent when including capital gains on investments.

That's compared to an estimated 20 percent for "middle wealth" people.

Dentons Kensington Swan tax partner Bruce Bernacchi told Kerre Woodham the wealthy earn a substantial amount from legally untaxed capital gains.

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A tax expert says the Government's wealth report covers what we already know.
Inland Revenue's wealth report shows the top one percent of earners pay a median effective tax rate of 9.4 percent when including capital gains on investments.
That's compared to an estimated 20 percent for "middle wealth" people.
Dentons Kensington Swan tax partner Bruce Bernacchi told Kerre Woodham the wealthy earn a substantial amount from legally untaxed capital gains.
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.