NZ's Tax Freedom Day has arrived 6 days later this year - but is paying tax so bad?

Tax Freedom Day has fallen six days later than it did last year, according to the accountants who calculate it.

Each year Staples Rodway works out the day when New Zealanders have "collectively paid off their tax bill for the year and can keep the rest of their income for themselves".

It does it by analysing GDP, tax revenue and current tax brackets, and concluded that people were effectively paying more tax than they did in 2016.

"The total amount Kiwis paid in taxes has increased by 9.5 per cent year-on-year, more than double the increase of last year, alongside a 5.1 per cent increase in nominal GDP," said Staples Rodway's Mike Rudd.

from
http://www.stuff.co.nz/business/money/92335535/NZs-Tax-Freedom-Day-has-arrived-6-days-later-this-year-but-is-paying-tax-so-bad