Jonathan Barret a tax professor at Victoria University Wellington, says do most of it with a one-off levy on the rich. But the most relevant precedent for New Zealand is the flood levy raised by the Australian government in 2011 to help pay for the devastating Queensland floods. But Robertson should look to the multiple property owners and trusts where most of our wealth is kept. A one-off tax on the value of all trusts domiciled here, and if need be a one-off tax on the sale of every property captured by the Bright Line Test. He has about one month left to land his budget 2023 draft.

Source: New Zealand Herald March 05, 2023 03:15 UTC