Kiwis with a net worth of at least 20-million dollars will have to provide details of what they own, and what businesses they and their children are involved in
Kiwis with a net worth of at least 20-million dollars will have to provide details of what they own, and what businesses they and their children are involved in
21 October 2021
Inland Revenue has started writing to 400 of them, and says it will ask their partners for the same information.
It's part of a project about how much ultra-wealthy New Zealanders pay in tax, as a share of their economic wealth.
Earlier this year, the Government released research claiming some rich Kiwis may pay an effective tax rate below even the lowest wage earners, because most of their wealth is tied up in assets.
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