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Last week, in fact, this very time last week, we were speculating wildly as to whether the IRD's report on New Zealand's wealthiest individuals was going to pave the way for a capital gains tax in this country. The report came out yesterday afternoon.  It just sort of sat there - there was a big ta-da and then nothing. We're an outlier as far as the rest of the wealthy nations of the world go, in...

A tax expert says the Government's wealth report covers what we already know. Inland Revenue's wealth report shows the top one percent of earners pay a median effective tax rate of 9.4 percent when including capital gains on investments. That's compared to an estimated 20 percent for "middle wealth" people. Dentons Kensington Swan tax partner Bruce Bernacchi told Kerre Woodham the wealthy earn a s...

A new New Zealand company is aiming to make green hydrogen a viable alternative energy source in this country and worldwide. Because green hydrogen can be created sustainably using renewable energy, the clean energy source is a transition away from oil and gas. BSPKL co-founder and CEO Christina Houlihan joined Mike Hosking. LISTEN ABOVE   See omnystudio.com/listener for privacy information.

With all this tax the rich talk and naysayers wanting punitive measures dished out to anyone showing signs of success or ambition, I just wonder if we're shooting ourselves in the foot here. Are we not at peak tall poppy syndrome now? Because where does all this "it's not fair, woe is me" whining actually get us? So far all I can see is that it sends our best and brightest off elsewhere. We have t...

The Reserve Bank is looking to make it easier for potential home buyers to get into the market. They're proposing changes to the loan to value restrictions, which currently mean banks can only give 10 percent of new loans to borrowers with deposits under 20 percent. They want to up that to 15 percent at the beginning of June. Bayleys Real Estate Agent, Karen Asquith told Mike Hosking anything that...

A tax expert says the current tax system is working. Inland Revenue's wealth report shows the top one percent of earners pay a median effective tax rate of 9.4 percent when including capital gains on investments. Meanwhile, Treasury estimates a comparable tax rate for a "middle wealth" Kiwi is roughly 20 percent. OliverShaw partner Robin Oliver told Mike Hosking the tax system, overall, isn't brok...

National says the Government needs to front up on whether it'll tax people more. Inland Revenue research shows the top one percent of earners pay a median effective tax rate of 9.4 percent, when including capital gains on investments. Meanwhile, Treasury estimates a comparable tax rate for a "middle wealth" Kiwi is roughly 20 percent. National Party Finance Spokesperson Nicola Willis told Kate Haw...

Potential policy changes from the Reserve Bank could provide a helping hand to first home buyers. It's looking at tweaking the rule by which banks can only give 10 percent of new loans to borrowers with deposits under 20 percent. The Reserve Bank wants to increase that to 15 percent of new lending from the start of June. Mortgage Supply Co-Director David Windler told Kate Hawkesby it's good news f...

Tonight on The Huddle, Newstalk ZB Wellington Mornings host Nick Mills and Jack Tame, host of ZB's Saturday Mornings and Q&A joined in on a discussion about the following topics:  Is it fair that over 300 of New Zealand's wealthiest pay a tax rate of 9.4 and middle income earners pay 20.2 percent? What might the Government plan to do with this IRD report?  Joe Biden has confirmed he's up for r...

An IRD report today found that New Zealand's wealthiest pay tax at nearly half the rate of ordinary people. A sample of over 300 wealthy Kiwis (all worth over $50 million) revealed they paid a median tax rate of 9.4 percent. Treasury data indicates that 'middle wealth' New Zealanders pay a 20.2 percent tax rate. Infometrics Principal Economist Brad Olsen says no matter what way you cut the figures...

Synlait Milk shares have taken a dive on the share market today. The company's shares have fallen by 27 percent, taking losses for Synlait to over 50 percent for the first third of 2023. Milford Asset Management Equities Analyst Jeremy Hutton says the 'ominous' trading halt on Friday indicated that bad news was coming for the company. Jeremy Hutton says Synlait Milk's profit decline was caused by...

The Reserve Bank might make things easier for prospective borrowers to get a mortgage. The RBNZ is proposing to loosen loan-to-value ratio (LVR) restrictions, giving banks more leeway to lend to high-risk borrowers. NZ Herald Wellington business editor Jenee Tibshraeny says the Reserve Bank is proposing a relatively small change to LVR restrictions, and this change is likely to happen. LISTEN ABOV...

The ski season starts in July, but Ruapehu Alpine Lifts' future remains on thin ice. The company has four potential Kiwi buyers after going into voluntary administration, driven by pandemic disruptions and poor snow. Administrator John Fisk has outlined the other alternatives. "Possibly going into liquidation, announcing closing or going into some sort of hibernation. But all of those have costs t...

The wealthiest New Zealanders pay tax at half the rate of ordinary people, an IRD report has found. An IRD study into the tax rate paid by a sample of 311 New Zealanders found they paid a median effective tax rate of 9.4 per cent. Treasury reckons a comparable tax rate for a “middle wealth” Kiwi was 20.2 per cent - that rate includes GST they pay and any benefits someone might receive like Working...

The Prime Minister says the Government is not releasing any new tax policy. An Inland Revenue report released early this afternoon will estimate the effective tax rate of the country's rich, taking into account their full economic income, rather than just taxable income.  Chris Hipkins told Mike Hosking they were clear in 2020 about their tax policy. He says they're sticking to that and they'll le...

More information is to be released on how much the rich are paying in tax. The Inland Revenue report will estimate the effective tax rate of the country's  wealthiest - taking into account their full economic income, rather than just taxable income.  PwC Partner Geof Nightingale says the tax system is collecting adequate revenue and there's no revenue crisis, even with cyclone expenses. He told Mi...

New research is coming out about how much tax New Zealand's rich are paying. The Inland Revenue report will estimate the effective tax rate of the wealthiest families, taking into account their full economic income, rather than just taxable income.  Deloitte Tax Partner Robyn Walker told Kate Hawkesby it's expected to show they're paying tax rates that are lower than marginal tax rates. But she sa...

What systems work best?  What questions should couples ask when talking about money?  What does money mean for you?   What is your safety number?  What is debt ratio number?  How do you need to be taken care of in relation to money?  LISTEN ABOVE   See omnystudio.com/listener for privacy information.

Hannah McQueen has been running enable.me for more than 15 years, and in that time has seen a huge change in the number of people who own shares. The sharesies/hatch/DIY investor revolution means many people have a portfolio when previously it was only those who had significant wealth, or a personal passion, who did.  The problem is there are more and more people randomly selecting shares, rather...

Apple is now a bank   It's offering a savings account earning an extremely competitive interest rate! Their Apple Card partner Goldman Sacks is also powering this savings account. It's tough to define these days what "Apple" is as a company - they make devices, offer cloud services, create TV shows, sell apps, and now offer a savings account.  Goodbye Twitter's blue checkmarks   After many many fa...

Brace for higher prices at the petrol pump. Finance Minister Grant Robertson has just confirmed to Newstalk ZB that the Government won't be extending the current fuel tax discount beyond the end of June. The Government extended the 25 cents per litre discount for a fourth time back in February, against Treasury advice. Prime Minister Chris Hipkins has previously refused to rule out further extensi...

Victims of retail crime are getting a further $9 million in support. Police minister Ginny Andersen has made the announcement, topping up the crime prevention fund to $15 million . It goes towards the likes of fog cannons, security sirens and CCTV systems. Dairy and Business Owners Group chair Sunny Kaushal joined Tim Dower to discuss. LISTEN ABOVE   See omnystudio.com/listener for privacy informa...

Coromandel businesses are crossing fingers for a bumper Anzac weekend after its local economy lost $30-million in the year's first quarter. A driving lottery has begun via the coastal route until Tuesday as State Highway 25A remains closed to vehicles. It features cameras in secret locations from Thames all the way around to Waihi, photographing random vehicles. Prizes include stays at a beach res...

Good news and sobering news has come from the latest inflation announcement. The inflation rate increased 6.7 percent in the 12 months to March. That's a slow down from the 7.2 percent jump recorded in the previous quarter. Devon Funds Management Head of Retail Greg Smith told Tim Dower the sobering news is that inflation has moved to domestic items and may not come down too quickly. He says the R...

A boost to the retail crime prevention fund is being given the tick of approval from the retail sector. It's been given a $9 million top-up, to a total of $15 million. More than 500 ram-raided or robbed stores have had quotes approved, and over 1000 security interventions completed. That includes hundreds of fog cannons, CCTV systems, and roller doors. Retail NZ spokesperson, Aimie Hines told Tim...