Quote Originally Posted by westerly View Post
Maximum Tax Rates

NZ 33% +15% gst
Australia 45% +10% gst
USA 50% (37% Fed 13% State)
UK 47% + 20% vat

All of these countries except NZ have CGT plus death and property taxes of some sort.

Their share markets are thriving yet NZ with low taxes is excited because a locally owned port may list some of its shares. The wealthy immigrants buying sheep stations which are then run at a loss for taxation purposes are sure doing a lot for NZ.

Seems to me the top 20% who supposedly own 80% of the assets have little to complain about in NZ.

westerly
Since you have all those figures then how about stating when at what level of income the maximum rate is hit. Also remember NZ has ACC levy and Australia has a medicare levy.

To say that all the foreign owned farms are run at a loss is unsubstantiated. It is like saying the wealthy all avoid tax by using trusts and leaving money in a company to avoid paying tax. Typical statements from a large number of misinformed New Zealanders.