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The Green Party’s tax plan (www.greens.org.nz)

submitted 4 days ago by BaconWrappedEnigma@lemmy.nz to c/politics@lemmy.nz

16 comments fedilink hide all child comments

Some interesting "Wealth Tax" ideas in there and proposed changes that would net an extra ~$5B (estimated).

Big corporations tax: The corporate tax rate will be increased from 28 percent to 33 percent for big companies with annual turnover exceeding $30 million. This will impact about 0.7 percent of businesses (e.g. banks, supermarkets and energy companies).

And new income tax rates:

Current

Income band	Tax rate
0 - $15,600	10.5%
$15,601 - $53,500	17.5%
$53,501 - $78,100	30%
$78,101 - $180,000	33%
$180,001 and over	39%

Proposed

Income band	Proposed rate
$0–$9,999	0%
$10,000–$19,999	10%
$20,000–$39,999	17.5%
$40,000–$59,999	25.5%
$60,000–$79,999	30.5%
$80,000–$159,999	33.5%
$160,000+	45%

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[–] BaconWrappedEnigma@lemmy.nz 1 points 4 days ago (1 children)

What about median income instead of minimum wage?

[–] deadbeef79000@lemmy.nz 1 points 4 days ago* (last edited 4 days ago)

Hmm, maybe. I suspect that the median income is quite close to minimum wage :-/ at least in magnitude.

Mean income as a floor for the larger tax rates would shift the tax burden up over the mean... and egregiously large incomes would drag that floor up.