Tax hike for top 2 per cent could catch out pharmacy owners

In print
Business

Tax hike for top 2 per cent could catch out pharmacy owners

Jonathan Roberts

Jonathan Roberts, pharmacy specialist

Tax return on typewrite - Markus Winkler on Unsplash
New regulations could have tax implications for some. Photo credit: Markus Winkler on Unsplash

A top marginal tax rate for individuals of 39 per cent of earnings above $180,000 may have implications for pharmacy owners who accumulate profits over the years, writes Jonathan Roberts, Auckland director of accountancy firm Moore Markhams

From the beginning of last month, a new top marginal tax bracket of 39 per cent for earnings above $180,000 was introduced for individual taxpayers. T