Wealth Transfer Tax

See: Inheritance Tax
A tax on large transfers of wealth, such as inheritances, or gifts given during the giver’s lifetime. Aotearoa does not currently have a wealth transfer tax.
Wealth transfer taxes are an important tool for making sure hard work can still get you ahead. Without one, some of the richest New Zealanders are living off their Grandma’s hard work, not their own.
Example
Grandma Burns transfers $2 million to her favourite nephew when he turns 30. A Wealth Transfer Tax says ‘that’s income’.
Visual idea: A relay baton labelled “wealth” being passed down generations.