iSAYSO
Why are we giving away our gold?
To: Hon. Nicola Willis, Minister of Finance
From: Nigel Gray
Date: 25 October 2026
Subject: Supplementary OIA Request – Gold Royalty vs GST, Fuel Tax, and Comparative Tax Burden
From: Nigel Gray
Date: 25 October 2026
Subject: Supplementary OIA Request – Gold Royalty vs GST, Fuel Tax, and Comparative Tax Burden
Dear Minister Willis,
This is a supplementary OIA request relating to my earlier request submitted on 25 October 2026 regarding gold reserve policy, debt servicing, and mineral export settings.
New information and public interest concerns have arisen regarding the comparative tax burden applied to gold versus other commodities and incomes in New Zealand.
Supplementary Questions
1. Comparative Tax Burden: Gold vs GST, Fuel, and Essential Goods
Please provide all documents, modelling, or policy analysis explaining how gold can be classified as a “critical mineral” while being subject to a royalty rate of 3–4%, which is lower than:
In short:
Gold — a critical mineral — is taxed less than groceries, fuel, alcohol, tobacco, pension income, PAYE, GST, and even the pensioner’s butter.
Please provide any documents or analysis that justify this discrepancy.
2. Critical Mineral Classification vs Royalty Structure
Please provide any Cabinet papers, Treasury advice, MBIE analysis, or internal correspondence discussing whether the current royalty rate for gold (3–4%) is consistent with its classification as a Critical Mineral.
Specifically:
3. Fuel Tax Comparison
Please provide any documents comparing gold royalty settings to fuel taxation, including:
4. Policy Rationale for Low Royalty on a Critical Mineral
Please provide any documents explaining:
Purpose of Supplementary Request
This supplementary request arises from the discovery that gold — officially classified as a Critical Mineral — is taxed at a rate significantly lower than:
This raises substantial public interest concerns regarding the coherence of New Zealand’s mineral policy, royalty settings, and fiscal strategy.
Electronic copies (PDF or DOCX) are preferred.
Yours Sincerely,
Nigel Gray
Nigel Gray
