A tax expert says the current tax system is working.

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.

Meanwhile, Treasury estimates a comparable tax rate for a "middle wealth" Kiwi is roughly 20 percent.

OliverShaw partner Robin Oliver told Mike Hosking the tax system, overall, isn't broken.

He says it's relatively simple and efficiently raises a lot of money the Government can then spend.

LISTEN ABOVE

A tax expert says the current tax system is working.
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.
Meanwhile, Treasury estimates a comparable tax rate for a "middle wealth" Kiwi is roughly 20 percent.
OliverShaw partner Robin Oliver told Mike Hosking the tax system, overall, isn't broken.
He says it's relatively simple and efficiently raises a lot of money the Government can then spend.
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.