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


Don’t Forget Personal Tax, Dr Cullen

19 December 2006

Don’t Forget Personal Tax, Dr Cullen

Farmers and other small business owners shouldn’t miss out from tax relief, said Don Nicolson, Vice President of Federated Farmers.

Mr Nicolson was commenting on today’s release of the Budget Policy Statement and the Half-Year Economic and Fiscal Update and the Minister of Finance’s cautionary comments about tax cuts.

“Dr Cullen has admitted that there will be around $1 billion extra headroom available for Budget 2008. While it is good to hear that he is committing to a ‘significant business tax package’, we are concerned that measures such as a cut in the company tax rate will do nothing for the many thousands of small businesses, including the vast majority of farmers, which are not incorporated.

“For most small business owners it is the personal income tax rate that is important and we consider it critical that the Government moves to reduce both rates.

“Farmers are struggling with escalating costs and high interest and exchange rates. Most would use the proceeds of a tax cut to invest in their businesses.

“With regard to the Minister’s concerns about inflationary pressures, we agree with the dangers of loose fiscal policy but we can’t understand why increasing Government spending by 11 percent in 2004/05 and 8 percent in 2005/06 is considered to be less inflationary than modest tax cuts.

“The Government has an embarrassment of riches due to high taxes and it seems determined to do all it can to keep the money under its own control. It’s time to give some of it back to the taxpayers”, said Mr Nicolson.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>


Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news