Was the Government right to target trusts?

Trusts have hit the headlines in recent weeks.   First, a major IRD report revealed that extremely wealthy people were earning most of their money through trusts. Then, shortly afterwards, the Government announced an increase in the tax rate on trusts.  So what exactly is a trust? How do you earn money from it? How many New Zealanders will be impacted by this tax hike? And is there a risk that average Kiwis take the biggest hit?    Today, Deloitte tax partner Robyn Walker and partner at TGT Legal Aimee Mitchell take Damien through the trust system’s inner workings.  Follow The Front Page on iHeartRadio, Apple Podcasts, Spotify or wherever you get your podcasts. You can read more about this and other stories in the New Zealand Herald, online at nzherald.co.nz, or tune in to news bulletins across the NZME network. Host: Damien VenutoProducer: Shaun D Wilson and Paddy FoxExecutive Producer: Ethan SillsSee omnystudio.com/listener for privacy information.