First published MAY 18, 2023 Updated 16 seconds ago Budget 2023 High-earning New Zealanders moved nearly $6b income a year into trusts after the Government introduced a new 39 percent personal tax rate – but now Inland Revenue will chase it down The Prime Minister promised no major new taxes in this Budget – and he didn't need them.  New Zealanders will pay nearly $80 billion more in tax over the next four years, according to Treasury projections. Three-quarters of that will be GST paid on more expensive food and other goods and services, and income tax as workers' pay rises move them up into higher income tax brackets.

https://www.newsroom.co.nz/budget-no-major-new-taxes-but-80b-more-tax-revenue

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