Nicola Willis: Finance Minister says trustee tax rate will increase to 39 percent from April 1
Heather du Plessis-Allan Drive · Newstalk ZB
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Show Notes
The Finance Minister plans to implement a 39 percent trustee tax rate by April 1.
This increase follows on from Labour's proposed plan for trustee tax rates from Budget 2023.
Nicola Willis says the Government is looking to fix up Labour's legislation to ensure rates are properly aligned.
"We're concerned that when Labour lifted the top tax rate, that misaligning it with the trust rate would lead to some avoidance activity. The evidence suggests that is what's happened, so we want those rates to stay in alignment."
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