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05-10-2022, 12:20 PM
#2861
Out of idle curiosity, does anyone know (or know where I can find) -
the dollar value amount of income tax (PAYE) paid by tax bracket?
The number of individuals paying PAYE in each tax bracket.
The Treasury, RNBZ, and IRD websites aren’t a lot of help – or I’m not looking in the right way.
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05-10-2022, 12:31 PM
#2862
Originally Posted by Blue Skies
How do you feel about the the top 1% structuring their affairs so they pay on average a tax rate of 12% on income, ?
And how, pray tell, do they manage to do that ?
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05-10-2022, 12:32 PM
#2863
Originally Posted by GTM 3442
Out of idle curiosity, does anyone know (or know where I can find) -
the dollar value amount of income tax (PAYE) paid by tax bracket?
The number of individuals paying PAYE in each tax bracket.
The Treasury, RNBZ, and IRD websites aren’t a lot of help – or I’m not looking in the right way.
I typed your second question verbatim into Google: Here's two of many links
https://www.moneyhub.co.nz/paye-tax-rates.html 2021-2022 New Zealand PAYE Tax Rates
https://figure.nz/chart/ZVcTUOvHRmKNyVSQ Income distribution of individual tax payers in New Zealand
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05-10-2022, 12:32 PM
#2864
Originally Posted by GTM 3442
Out of idle curiosity, does anyone know (or know where I can find) -
the dollar value amount of income tax (PAYE) paid by tax bracket?
The number of individuals paying PAYE in each tax bracket.
The Treasury, RNBZ, and IRD websites aren’t a lot of help – or I’m not looking in the right way.
Try statistics section of IRD site
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05-10-2022, 01:08 PM
#2865
Originally Posted by fungus pudding
And how, pray tell, do they manage to do that ?
Inland Revenue have these figures, the average tax rate paid by High Wealth individuals is 12% and even worse, around 42% of High Wealth Individuals pay less than 10% of their income which is lower than the lowest tax rate which is 10.5% for people earning up to $14,000.
Figures are probably actually worse in reality as many HWI's shuffle income & expenses onto other family members, Trusts, off shore accounts etc to reduce legally declared income
And of course the top 1% or 10% earn a substantial chunk of the countries total income so you would expect them to pay a larger chunk of the countries tax take.
It's not the worst problem in the world to have.
https://www.stuff.co.nz/national/pol...t-data-reveals
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05-10-2022, 02:09 PM
#2866
Originally Posted by Blue Skies
Inland Revenue have these figures, the average tax rate paid by High Wealth individuals is 12% and even worse, around 42% of High Wealth Individuals pay less than 10% of their income which is lower than the lowest tax rate which is 10.5% for people earning up to $14,000.
Figures are probably actually worse in reality as many HWI's shuffle income & expenses onto other family members, Trusts, off shore accounts etc to reduce legally declared income
And of course the top 1% or 10% earn a substantial chunk of the countries total income so you would expect them to pay a larger chunk of the countries tax take.
It's not the worst problem in the world to have.
https://www.stuff.co.nz/national/pol...t-data-reveals
You claimed some wealthy people paid around 12% on income. Tax is assesed on income - not wealth. And income tax is close to impossible to legally avoid, evasion is illegal, there are limits on gifting. Don't believe everyting you hear - it just ain't that easy to avoid tax on income.
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05-10-2022, 02:55 PM
#2867
Originally Posted by Blue Skies
How do you feel about the the top 1% structuring their affairs so they pay on average a tax rate of 12% on income, which is a lower rate than our minimum paid essential workers, and about 35% of the countries income goes to the top 10% ?
How jealous can you be?
Using your figures, one earning $1M pa pays $120000.00 tax.
One earning $50K @ 10% of that, at applicable IRD rate, then gets most if not more back in working for families etc.
Does the one paying 10 times tax get more back in services from the govt?
They are more likely to be employng many people who otherwise may not have a job, and buying things that keep people employed.
More likely to have private medical cover, to free up a hospital bed for the $50K earner and their family to get free care.
Fair and equitable?
Or kneecap them.
Lets kill off incentive.
Oh for a good old commie state, where a bus driver and a doctor earn the same eh?
A few more years of Taxcinda, and that wish may be granted.
Last edited by Getty; 05-10-2022 at 03:19 PM.
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05-10-2022, 03:21 PM
#2868
Originally Posted by Getty
A few more years of Taxcinda, and that wish may be granted.
Almost a certainty the way National is going.
Only 10 months left to get their house (of rich blokes) in order. Show NZers the Sam uffindel report.
Last edited by Panda-NZ-; 05-10-2022 at 03:26 PM.
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05-10-2022, 03:24 PM
#2869
https://youtu.be/nS5_EQgbuLc
For those who like going backwards.
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05-10-2022, 03:33 PM
#2870
Originally Posted by Panda-NZ-
Almost a certainty the way National is going.
Only 10 months left to get their house (of rich blokes) in order. Show NZers the Sam uffindel report.
Oh no, rich blokes!!!
Those who have been successful?
No way!
Much better to have Comrade Cinders diverse mob wreck and divide the country.
2F 1C
Last edited by Getty; 05-10-2022 at 03:42 PM.
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