Robyn Walker: Deloitte tax partner says wealth taxes don't bring in a huge amount of revenue, but create higher costs
Early Edition with Ryan Bridge · Newstalk ZB
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Show Notes
Capital gains and wealth taxes may not accomplish the goals advocates think they might.
After investigating, Chris Hipkins has ruled out those changes while he's Prime Minister.
Deloitte tax partner Robyn Walker says wealth taxes don't bring in a huge amount of revenue, but create higher administration and compliance costs.
She says there are unintended consequences which have been seen in overseas countries, like Norway.
Walker says the wealthy and "the want to be wealthy" have fled the country.
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