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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...

A new IRD report has found that the wealthiest New Zealanders pay tax at half the rate of ordinary people. This IRD study reveals a sample of over 300 New Zealanders paid a median effective tax rate of 9.4 percent. Revenue Minister David Parker said the report shows that "middle wealth" Kiwis pay higher tax rates than their richer counterparts. ZB's senior political correspondent Barry Soper says...

Scott Robertson's coaching team for the All Blacks after this year's World Cup has been locked in. Blues coach Leon Macdonald and Hurricanes coach Jason Holland will be leading the team's attack, forwards coach Jason Ryan is staying on and Crusaders assistant coach Scott Hansen will take over defence. Sportstalk host D'Arcy Waldegrave says the best part of today's announcement was that there were...

Joe Biden has formally announced his campaign for re-election to the White House in 2024. He's already the oldest president, and would be 86 before ending his second term. It could mean a second Biden v Trump election, a prospect supported by only 5 percent of Americans. US correspondent Dan Mitchinson says many voters would like a new face in the presidential race. "Nobody wants this to happen ag...

A call to action from the Climate Change Commission. It's released draft advice to inform our second emissions reduction plan- covering 2026 to 2030- which now goes out for consultation. The 19 recommendations include committing to set gross emissions, accelerating renewable electricity and supporting farmers to adopt cleaner practices. Chair Rod Carr says he believes we can make our targets, but...

Scott Robertson and NZ Rugby have confirmed the new assistant coaching lineup for the All Blacks. Blues and Hurricanes coaches Leon MacDonald and Jason Holland will oversee the All Blacks attack when Robertson takes over in 2024. Crusaders assistant Scott Hansen will take charge of the defence, while Jason Ryan remains as forwards coach. Former All Black Steve Gordon likes the look of this coachin...

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 Revenue Minister's staying tight-lipped about Labour's vision for New Zealand's tax system. An IRD study's revealed the top 1 percent of earners pay a median effective tax rate of 9.4 percent on income. Meanwhile, Treasury estimates a comparable tax rate for a "middle wealth" Kiwi is roughly 20 percent. It's already prompted several economists to call for taxing capital gains. Minister David P...

The Reserve Bank says it's proposed change in lending rules - because the housing market is changing. It wants to let banks grant a larger percentage of its new lending, to borrowers with less of a deposit. Reserve Bank Deputy Governor Christian Hawkesby says house prices have moderated to become more sustainable. He says he expects the proposal will be attractive to banks. "It is a very short con...

The Red Cross is defending itself from accusations it's not doing enough to help in Hawke's Bay after Cyclone Gabrielle. It's collected $22 million dollars, but only spent $3.98 million with organisations on the ground. Some residents are still cleaning up toxic silt with shovels, with funds still unspent. Red Cross Secretary General, Sarah Stuart-Black, says they're making sure they don't step on...

There’s a tax coming, there’s definitely a tax coming.  And out of morbid fascination, I can’t wait to see how Labour goes about trying this one on .  David Parker today released his research into how much tax Kiwis paid   and he's got the headlines he wanted. They’re all screaming that 350 of the richest Kiwis pay half the rate of tax that the rest of us do. Only 8.9 percent, compared to our 20 p...

UK citizens stuck in war-torn Sudan have raised questions after embassy staff were evacuated. Over the weekend, UK armed forces rescued all the diplomatic staff and their families from Sudan, but there are believed to be hundreds more British citizens currently trapped. UK correspondent Gavin Grey says the remaining citizens, including teachers and NHS doctors, feel abandoned by the UK Government....

Tonight on The Huddle, former Labour Chief of Staff and current director at Mike Munroe Communications Mike Munroe and Trish Sherson of Sherson Willis PR joined in on a discussion about the following topics- and more! The Red Cross is under fire for their slow rollout of the Cyclone Gabrielle relief spending in Hawke's Bay. Are these criticisms fair? Will this scrutiny encourage them to focus more...

Starting from July, hundreds of Kiwis living in Australia will be able to easily become dual citizens. This announcement fulfils a promise Anthony Albanese made in July last year when he met former Prime Minister Jacinda Ardern.  NZME business commentator Fran O'Sullivan says that Jacinda Ardern's meeting with Albanese laid the foundation for this policy, and it was apparent this would eventually...

The Australian Government announced that Kiwis who have been in the country for four years will be able to apply for citizenship come July. This has sparked concerns from economists and employers that New Zealand workers will head across the ditch following the removal of bureaucratic hurdles. ZB's senior political correspondent Barry Soper says these changes are good for New Zealanders, as Kiwis...

The Warriors will face the Storm in tomorrow night's annual Anzac Day NRL clash. The match is due to take place in Melbourne and experts are unsure as to how it'll play out for the Kiwi team. Weekend Sport host Jason Pine says history indicates the Warriors have no chance against the Storm, but their impressive current season increases their odds. LISTEN ABOVE   See omnystudio.com/listener for pri...

Times have been tough for the rural sector, but there may be light at the end of the tunnel. Rural cost inflation came in at 15.3 percent in the December 2022 quarter, but economists are predicting a sharp drop. Westpac Senior Agri Economist Nathan Penny predicts rural cost inflation will fall to 4 percent come December 2023. "There's some big costs that have already started falling, like fertilis...

A group of Restore Passenger Rail protesters have been arrested after blocking Wellington's State Highway One. The protesters glued themselves to Vivian St at the intersection of Cuba St and were swiftly removed by police within 30 minutes. Transport Minister Michael Wood says it was good to see them moved on by police and was pleased with the robust response. "I'm concerned about the disruption t...

Deep frustration from Hawke's Bay locals at the Red Cross's slow spend of its Cyclone Gabrielle fund. More than $21 million was raised from donations in the immediate aftermath, but only $4 million has been dished out so far. Cyclone Recovery Local Advocate, Chloe Johnson says there's a lot of places the organisation's help is needed, but silt clean up is the most obvious. "It's not that we want t...

A new global study has pitted artificial intelligence tools against accounting students. It found students performed about 20 percent better on average than ChatGPT. The study used 25,000 questions and also found the AI tool often made up facts while providing descriptive explanations for them. A co-author, Auckland University's Ruth Dimes says the findings do come with some caveats. "The study we...

There are warnings New Zealand will need to level the playing field to avoid a major brain drain to Australia. From July, New Zealanders living across the ditch will be able to gain dual citizenship if they've been in Australia at least four years. The managing director of a recruitment agency says it will make Australia even more attractive for would-be expats. Hays New Zealand's Adam Shapley say...

Questions over the logistics of Australia's defence strategy announcement. Their Government has agreed to all 62 recommendations from a review, conceding its Defence Force isn't up to scratch. The plan will cost $19 billion dollars (Australian) over the next four years, including $7.8 billion in reallocated funding. Australian correspondent Oliver Peterson says there's a lot of mathematics involve...

Predictions we're on the pathway for commissioners to be called in at Gore District Council. An independent review's been sought following ongoing issues between mayor Ben Bell and his Chief Executive Stephen Parry. Massey University expert Jeff McNeill says there's been a fundamental breakdown between the two and things just aren't working. "The way out is going to be- get somebody else in to bre...