Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Time Is Right For Company Tax Cut - Business NZ

Business NZ chief executive Simon Carlaw says the time is right for a cut in company tax.

"There is excess surplus in the Government's accounts over and above that earmarked for the superannuation fund this year. Given that most of the increase in the surplus has come from higher than expected company tax, it is appropriate to consider lowering the company rate now. There is sufficient lead-in time for such a move to be introduced in next month's Budget.

"The business community has consistently called for a more competitive tax rate in business forums and other exchanges with the Government. With our main trading partner and competitor Australia moving towards a 30% company tax rate, it is clearly in our interest to adopt that rate also.

"Analysis by Treasury and Inland Revenue shows that cutting the rate will lead to more investment in business, more growth and improved tax revenues.

"No doubt the Government will wish to choose the most advantageous time to implement some of its plans arising from the forums. Business NZ's view is that the time for a cut in company tax is now," Mr Carlaw said.

Contact Simon Carlaw, Business NZ 04 4966555 or 025 545472, home 04 4767729


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>

ALSO:

Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>

ALSO:

Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>

ALSO: