More Kiwis than ever are in debt to the IRD, and one expert has a theory about why it's gotten so bad. 

As of March this year, more than half-a-million people had debt to Inland Revenue, and overall tax debt sat at $9.4 billion, of which Inland Revenue said 62 percent, or $5.9 billion, was collectable.

Chartered Accountants Australia New Zealand lead, John Cuthbertson, says there's been a significant build-up of debt, largely as a result of the Covid-19 pandemic.

"As debt ages, it becomes harder to collect - and we know that about 43 percent of it is over 2 years old. So once you get into that territory, it gets harder and harder to collect." 

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More Kiwis than ever are in debt to the IRD, and one expert has a theory about why it's gotten so bad.&nbsp;
As of March this year, more than half-a-million people had debt to Inland Revenue, and overall tax debt sat at $9.4 billion, of which Inland Revenue said 62 percent, or $5.9 billion, was collectable.
Chartered Accountants Australia New Zealand lead, John Cuthbertson, says there's been a significant build-up of debt, largely as a result of the Covid-19 pandemic.
"As debt ages, it becomes harder to collect - and we know that about 43 percent of it is over 2 years old. So once you get into that territory, it gets harder and harder to collect."&nbsp;
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With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

John Cuthbertson: Chartered Accountants Australia New Zealand lead on the number of Kiwis in debt to the IRD

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/760fea5f-3fb9-457f-b6a9-b4a300706b83/transcript