26 Aug 2012

Dunne not in agreement with claims over tax payments

12:12 pm on 26 August 2012

Revenue Minister Peter Dunne discounts claims that wealthy people are getting away with not paying their fair share of tax.

The Green Party is quoting figures showing only half of all wealthy individuals worth more than $50 million are paying the top personal tax rate.

The rest said they were earning less than $70,000 per year and so were not paying tax at the highest rate.

Mr Dunne said the figures overlap the period when tax rules encouraged income sheltering.

He said they were prepared close to the time when rates for income and tax trusts were aligned, and he would expect the figures to be far better when they are done next.

Mr Dunne said the Inland Revenue Department rigorously pursues people who do not pay tax, but these figures do not prove non-compliance with tax rules.