Misc

Rich List Editorial: NZ surfs an economic boom

IT'S BEEN a poor year for the world's rich, according to the Merrill Lynch World Wealth Report. Not so New Zealand, although it doesn't rate a mention in the global stakes. The 2004 NBR Rich List reveals it has been another good year for wealth creation.

Monday, July 05th 2004

We have consequently had to lift the bar ­ by a whopping $10 million ­ to keep the list as interesting and exclusive as possible. We have also concentrated on those who are active investors or are running businesses in or from New Zealand. This excludes some expat Kiwis who have been successful overseas and prefer to remain there.

The high rate of personal tax is often seen as a barrier to creating wealth. Some of the overseas-based Rich Listers make no secret of their "tax exile" status. The government is not sympathetic to them ­ and many may agree with that.

The tax reduction debate, for example, seldom sees even experts arguing for a cut in the margin for the top income earners as the most economically beneficial means of increasing investment. Yet few economists would deny it.

Read More - Opens in a new window
Unity First Home Buyer special 3.99
ICBC 4.25
SBS FirstHome Combo 4.29
Co-operative Bank - First Home Special 4.39
TSB Special 4.49
ANZ Special 4.49
ASB Bank 4.49
SBS Bank Special 4.49
Unity Special 4.49
Westpac Special 4.49
Kiwibank Special 4.49
TSB Special 4.49
ANZ Special 4.49
Westpac Special 4.49
Wairarapa Building Society 4.59
ICBC 4.59
BNZ - Std 4.65
AIA - Go Home Loans 4.65
Unity Special 4.65
ASB Bank 4.65
SBS Bank Special 4.65
Nelson Building Society 4.69
SBS Bank Special 4.99
Westpac Special 4.99
ICBC 4.99
TSB Special 5.39
BNZ - Std 5.39
ANZ 5.39
AIA - Go Home Loans 5.39
ASB Bank 5.39
Co-operative Bank - Owner Occ 5.49
Kainga Ora 5.49
SBS Bank 5.59
SBS Construction lending for FHB 3.74
CFML 321 Loans 4.25
AIA - Back My Build 4.44
ICBC 5.39
Heartland Bank - Online 5.45
Co-operative Bank - Owner Occ 5.70
Co-operative Bank - Standard 5.70
ANZ 5.89
TSB Special 5.94
ASB Bank 5.99
Pepper Money Prime 5.99

More Stories

Thursday, October 09th 2025

New rules for meth contaminated houses

REINZ welcomes regulation of methamphetamine contamination in rental housing.

Spending confidence low and likely to fall further

Thursday, September 18th 2025

Spending confidence low and likely to fall further

More than 40% of households who took part in the latest Westpac McDermott Miller Consumer Confidence say their financial position has deteriorated over the past year.

Four decades of 6-7% yearly house price growth ending

Friday, March 21st 2025

Four decades of 6-7% yearly house price growth ending

New Zealander’s reliance on property capital gains in the mid-single digits is at an end.

[TMM Podcast] Yelsa serves up “marine reserve” of property buyers

Friday, January 31st 2025

[TMM Podcast] Yelsa serves up “marine reserve” of property buyers

It’s been years in the making and former real estate agent Mike Harvey is now coming to market with his platform matching buyers and sellers, an offering he says will be a gamechanger for the industry.