Group of rich New Zealanders want to pay more tax

A group of 96 wealthy New Zealanders are calling on the Government to tax them more.

The group, inspired by the initiative Millionaires for Humanity, says the current tax system contributes towards the gap between poor and the wealthy.

Signatory and Ecostore Founder Malcolm Rands says he doesn’t mind if it’s done through increased income tax, a wealth tax or a capital gains tax.

But he says increases should only apply to the wealthy.

The group wrote an open letter to the public and politicians of Aotearoa explaining how frustrated they are at the amount of tax they pay, and they wish to pay more.

The tax they pay funds everything from teachers to DoC rangers, through to healthcare professionals.

Increases should only apply to the wealthy, says Malcolm Rands, Co-founder of Ecostore. Photo / file

Cyclone Gabrielle made it clear, responding to the climate crisis, repairing the public realm and future-proofing infrastructure will only increase. And that will require a bigger tax contribution from those who can afford it.

Taxes also pay for the social services and payments that assist communities, including superannuitants, families and individuals needing support. Tax is one way to pay for that.

The group would willingly pay more tax to help lift families out of poverty – an investment that would pay off many times over.

Inland Revenue research shows that nearly half the country’s wealthiest people pay a lower tax rate than minimum-wage workers. Often that’s because much of their income is capital gains, which aren’t usually taxed.

The group want to call on everyone who lives and works in Aotearoa New Zealand to back a tax system that asks more from those who can most afford it, and urge politicians to make that a reality.

The group says tax is one way to build a better world and are proud to pay it, and ready to pay their fair share.