Calls for the Government to review tax brackets amid rising inflation.

New Zealand’s marginal tax rate system means higher rates of tax are applied as someone earns more income.

Stats NZ data shows median weekly earnings increased 8.8 percent in the year to the June quarter, the biggest jump since records began.

Deloitte partner Robyn Walker told Mike Hosking it needs some tweaking at the lower end of the scale.

“When you get to $48,000 you suddenly go from a 17.5 percent tax rate, up 71 percent to a 30 percent tax rate.”

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Calls for the Government to review tax brackets amid rising inflation.
New Zealand’s marginal tax rate system means higher rates of tax are applied as someone earns more income.
Stats NZ data shows median weekly earnings increased 8.8 percent in the year to the June quarter, the biggest jump since records began.
Deloitte partner Robyn Walker told Mike Hosking it needs some tweaking at the lower end of the scale.
“When you get to $48,000 you suddenly go from a 17.5 percent tax rate, up 71 percent to a 30 percent tax rate.”
LISTEN ABOVE

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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,...