Doubts New Zealand could avoid the problems other countries faced with wealth taxes.

The Greens are proposing a 2.5% tax on net assets above 10 million dollars, excluding the family home.

The package also includes income tax cuts for those earning under $160,000.

Dentons tax partner Bruce Bernacchi says several European countries abandoned similar taxes, after wealth and investment flowed offshore.

He says it would be a giant leap backwards for our economy, which is doing well at the moment.

LISTEN ABOVE

Doubts New Zealand could avoid the problems other countries faced with wealth taxes.
The Greens are proposing a 2.5% tax on net assets above 10 million dollars, excluding the family home.
The package also includes income tax cuts for those earning under $160,000.
Dentons tax partner Bruce Bernacchi says several European countries abandoned similar taxes, after wealth and investment flowed offshore.
He says it would be a giant leap backwards for our economy, which is doing well at the moment.
LISTEN ABOVE

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The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Bruce Bernacchi: Dentons tax partner says Green's tax will send investments overseas

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/064e78ac-b780-4e68-97b9-b470014151e7/transcript

On the Mike Hosking Breakfast Full Show Podcast for Monday the 22nd of June, the Government has revealed their compulsory KiwiSaver plans and Mike isn't sure he wants the Government getting even more involved in it.

The Prime Minister speaks on the new policy and the argy-bargy between National and the coalition partners.

Jason Pine in Vancouver and Andrew Saville talk the All Whites chances against Egypt, the Warriors game in Christchurch and the Hurricanes thrashing.

Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.

LISTEN ABOVE

On the Mike Hosking Breakfast Full Show Podcast for Monday the 22nd of June, the Government has revealed their compulsory KiwiSaver plans and Mike isn't sure he wants the Government getting even more involved in it.
The Prime Minister speaks on the new policy and the argy-bargy between National and the coalition partners.
Jason Pine in Vancouver and Andrew Saville talk the All Whites chances against Egypt, the Warriors game in Christchurch and the Hurricanes thrashing.
Get the Mike Hosking Breakfast Full Show Podcast every weekday morning on iHeartRadio, or wherever you get your podcasts.
LISTEN ABOVE

Full Show Podcast: 22 June 2026 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/7a60f7d3-0d15-4cc7-995a-b470015d65b1/transcript

The most uplifting part of the news weekend (apart from the Warriors) was the Stuff story quoting the head of an Australian investment firm confirming what is clearly already underway.

Which is either New Zealanders returning to New Zealand, or Australians seeing our country as a better option than theirs.

What's particularly uplifting, according to Ed Carlson who runs TrueBridge Capital, is the people coming are the bright and go-getters.

It cannot be overstated what a gargantuan cock-up the last Australian budget was.

Although it was delivered at the start of last month, the fallout has been unrelenting and culminated last Thursday in a humiliating series of backdowns around capital gains taxes and who pays them.

It is, if they want to look and learn, a salutary lesson for the New Zealand Labour Party that taxing success is a direct pathway to political ruin.

It's an age old lesson - capital and brain power moves to where it's best treated.

And the reason it does that is because it can.

Most of us don’t mind paying our fair share. But all of us have a subliminal line where when the unfairness encroaches, we do something about it.

Some adjust their tax position and some move countries.

Do not underestimate the narrative behind all of this. How uplifting is it to contemplate the idea that we are actually starting to outperform Australia in terms of attractiveness.

Can I also be a little blunt and suggest that no small number of Kiwis that left for Australia in the mad post-Covid flight out, might well have been at the less useful end of the spectrum and may well be languishing in places like Queensland wondering why the largesse from the state isn't quite what they thought it might be?

If they come from Australia and they bring money and ideas and entrepreneurialism, we are off to the races.

A country that is a magnet is a country going places.

Last week's GDP showed us the tide has turned. This current war period will hurt, but for the rest of the year I think we are good to go.

Clearly, according to Ed, I'm not the only one who sees it.

LISTEN ABOVE

The most uplifting part of the news weekend (apart from the Warriors) was the Stuff story quoting the head of an Australian investment firm confirming what is clearly already underway.
Which is either New Zealanders returning to New Zealand, or Australians seeing our country as a better option than theirs.
What's particularly uplifting, according to Ed Carlson who runs TrueBridge Capital, is the people coming are the bright and go-getters.
It cannot be overstated what a gargantuan cock-up the last Australian budget was.
Although it was delivered at the start of last month, the fallout has been unrelenting and culminated last Thursday in a humiliating series of backdowns around capital gains taxes and who pays them.
It is, if they want to look and learn, a salutary lesson for the New Zealand Labour Party that taxing success is a direct pathway to political ruin.
It's an age old lesson - capital and brain power moves to where it's best treated.
And the reason it does that is because it can.
Most of us don’t mind paying our fair share. But all of us have a subliminal line where when the unfairness encroaches, we do something about it.
Some adjust their tax position and some move countries.
Do not underestimate the narrative behind all of this. How uplifting is it to contemplate the idea that we are actually starting to outperform Australia in terms of attractiveness.
Can I also be a little blunt and suggest that no small number of Kiwis that left for Australia in the mad post-Covid flight out, might well have been at the less useful end of the spectrum and may well be languishing in places like Queensland wondering why the largesse from the state isn't quite what they thought it might be?
If they come from Australia and they bring money and ideas and entrepreneurialism, we are off to the races.
A country that is a magnet is a country going places.
Last week's GDP showed us the tide has turned. This current war period will hurt, but for the rest of the year I think we are good to go.
Clearly, according to Ed, I'm not the only one who sees it.
LISTEN ABOVE

Mike's Minute: We are becoming, again, the magnet that we should be

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/80ee651b-d91b-413e-a69a-b470015c63a9/transcript

Andrew Saville and Jason Pine join Mike Hosking to review the Weekend's sport. 

On the table today: The Warriors hopes for the title continue after another victory.

The All Whites face Egypt, desperate for a win. 

And the Black Caps have beat England in a thrilling match.

LISTEN ABOVE

Andrew Saville and Jason Pine join Mike Hosking to review the Weekend's sport.&nbsp;
On the table today: The Warriors hopes for the title continue after another victory.
The All Whites face Egypt, desperate for a win.&nbsp;
And the Black Caps have beat England in a thrilling match.
LISTEN ABOVE

Commentary Box with Andrew Saville and Jason Pine: All Whites, Warriors, Black Caps

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/cbcb5e26-57d1-4c6f-b318-b4700158b9d0/transcript

Bruce Bernacchi: Dentons tax partner says Green's tax will send investments overseas

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