Robyn Walker: Deloitte partner calls for review to tax brackets amid rising inflation
Calls for the Government to review tax brackets amid rising inflation.
New Zealand’s marginal tax rate system means higher rates of tax are applied as someone earns more income.
Stats NZ data shows median weekly earnings increased 8.8 percent in the year to the June quarter, the biggest jump since records began.
Deloitte partner Robyn Walker told Mike Hosking it needs some tweaking at the lower end of the scale.
“When you get to $48,000 you suddenly go from a 17.5 percent tax rate, up 71 percent to a 30 percent tax rate.”
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