Bruce Bernacchi: Dentons tax partner says Green's tax will send investments overseas

from The Mike Hosking Breakfast · host Newstalk ZB

Doubts New Zealand could avoid the problems other countries faced with wealth taxes. The Greens are proposing a 2.5% tax on net assets above 10 million dollars, excluding the family home. The package also includes income tax cuts for those earning under $160,000. Dentons tax partner Bruce Bernacchi says several European countries abandoned similar taxes, after wealth and investment flowed offshore. He says it would be a giant leap backwards for our economy, which is doing well at the moment. LISTEN ABOVESee omnystudio.com/listener for privacy information.

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