Study finds New Zealand's wealthy pay lowest tax among OECD nations due to lack of capital gains tax.

A study by Max Rashbrooke from Victoria University reveals that New Zealand's wealthy face lower taxes than their counterparts in nine OECD nations. High earners, such as those making $330,000, pay 33% income tax, the lowest rate among comparable countries. New Zealand lacks a capital gains tax, contributing to an overall lower tax burden. The findings spark discussions on potential tax reforms, including a wealth tax, amid concerns about income inequality.