Iwi assets swollen by tax loophole

Tuesday, 23 January 2018, 3:33 pm
Press Release: New Zealand Taxpayers' Union

The New Zealand Taxpayers’ Union says the rapid growth of iwi assets is driven by special tax treatment.

Taxpayers’ Union Executive Director Jordan Williams says, “The corporate tax rate for Maori Authorities is 17.5%, compared to 28% for other businesses. And because of their ‘charitable’ status, many iwi-run businesses don’t even pay income tax.”

“These loopholes don’t just let iwi keep more profit – they allow iwi to gain a competitive advantage by undercutting their competitors.”

“Look at Shotover Jet for example. Owned by Ngāi Tahu, it pays no company tax at all, and no guarantee whatsoever than a cent is returned to the community. It’s just a legalised rotten tax rort.”

“Growing Kiwi businesses deserve congratulations. But it’s time all businesses faced a lower tax rate – not just Maori ones.”

© Scoop Media

New Zealand Taxpayers' Union

New Zealand's grassroots campaign for lower taxes and less government waste

The New Zealand Taxpayers' Union is an independent activist group, dedicated to being the voice for Kiwi taxpayers in the corridors of power. It's here to fight government waste and make sure New Zealanders get value for money from their tax dollar. New Zealanders are invited to join and donate at http://taxpayers.org.nz

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