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

 

CA ANZ survey finds most oppose fuel tax

CA ANZ survey finds most oppose fuel tax, support road improvements from current budget

By Sophie Boot

May 15 (BusinessDesk) - Most people don't want to pay a new fuel tax but do want the government to make roads safer and increase access, a survey funded by Chartered Accountants Australia and New Zealand (CA ANZ) has shown.

The government is proposing to raise petrol excises by between 9 and 12 cents a litre over the next three years, alongside the 11.5 cents per litre regional fuel tax in Auckland likely to begin from July.

The survey of 750 people, conducted by Ipsos for CA ANZ, showed that 49.6 percent of respondents wanted improvements to roading to come from the current land transport budget with less money spent on other projects, CA ANZ said.

Some 36 percent thought it should be funded from general taxation, 25 percent said funding should come from other sources such as congestion charges, regional fuel taxes or tolls, and 14 percent supported an increased fuel tax. Nine percent of respondents said they disagreed with the government's goal of improving roads. The percentages add up to over 100 percent because respondents could select multiple answers.

Respondents were more positive about the government's $1 billion Provincial Growth Fund, with 45 percent in favour of the spending, 21 percent opposed, and 34 percent not sure.

Most respondents believed they were paying the right amount of income tax, at 59 percent with 34 percent believing they should pay less, and many supported increasing or introducing other taxes. A total of 44 percent of respondents supported capital gains or wealth taxes, 31 percent said excise taxes such as those on alcohol, tobacco and fuel should rise, 30 percent thought company tax should be increased, 24 percent were in favour of environmental taxes, while 29 percent of respondents said no taxes should be increased or introduced.

CA ANZ tax lead for New Zealand, John Cuthbertson, said this was nimbyism, with just 4.3 percent of respondents in favour of lifting GST.

The government has said that the 'family home' won't be subject to capital gains tax, meaning most people won't be affected, Cuthbertson said.

"Our company tax rate, at 28 percent, is already above the OECD average and there are signs you can only go so far with some excise taxes such as tobacco, and it seems judging by the results of our survey, fuel tax.”

The average combined corporate tax rate in the OECD is 23.9 percent, according to data from the organisation's website.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Taxing Multinationals: Next Step To Improve System

New legislation to improve the fairness of the tax system and prevent large multinationals from exploiting rules in order to shift their profits offshore has passed another step closer to becoming law. More>>

A Fuel And His Money: Petrol Prices Hit Records

The cost of 91 octane in Wellington and the South Island hit $2.30 a litre last week, beating the previous high set in 2013. Crude oil prices have been rising globally while the New Zealand dollar has fallen, making the cost of fuel more expensive. More>>

ALSO:

NZentry: EU And NZ To Start Free Trade Talks

A free trade deal between New Zealand and the European Union (EU) has taken a major step forward with the announcement overnight that the EU’s Foreign Affairs Council has approved its negotiating mandate. More>>

ALSO:

You'd Hope: Employers Told To Pay Minimum Wage

Advertisers offering jobs to backpackers are being told they must pay the minimum wage or risk prosecution. Last week, RNZ revealed a job website - Backpackerboard - was advertising roles below the $16.50 per hour minimum wage. More>>

ALSO:

Still Gaining: More Migrants Head Back Overseas

Annual net migration is down 4,800 from a high point a year ago, largely because more non-New Zealand citizens are leaving the country, Stats NZ said today. More>>

Christchurch: Red Zone Used To Boost Endangered Bee Population

“May 20 has been declared World Bee Day by the United Nations, and I am pleased to announce today that we have been able to use the red zone to protect and grow our native bee stocks,” says Minister Megan Woods. More>>

Trips, Support, Conferences For Agents: Insurers Spend $34 Million On Soft Commissions

“We are concerned that insurers are designing and offering incentives that potentially set advisers up to fail in complying with their obligations.” More>>

ALSO: