Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More
Top Scoops

Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search

 

Raw Audio: Brash & Key Announce Tax Policy

Monday, 22 August 2005, 3:30 pm
Article: Scoop Audio

Raw Audio: Brash & Key Announce Tax Policy

National Party Leader Don Brash unveiled a plan which he says will significantly restructure the tax system. He says it will provide fair tax relief and targeted family assistance worth about $3.9 billion by the third year.

ClickSCOOP AUDIO: National Leader Don Brash Announces Tax Policy (raw audio)

ClickSCOOP AUDIO: National Leader Don Brash & John Key tax press conference (raw audio)

The features of National's fair tax plan include:

  • The 15% tax rate, which now applies to income below $9,500 will extend to $12,500.

  • For income between $12,500 and $50,000, the tax rate will be 19%.

  • The withholding tax rate for secondary employment will be 19%.
  • Income between $50,000 and $100,000 will be taxed at 33%.

  • Income above $100,000 will continue to be taxed at 39%.

  • The lower statutory rate of withholding tax applied to interest and other investment income will be reduced from 19.5% to 18%.

  • The threshold for abatement of WFF payments will be $30,000 from April 2006, and to keep the effective tax rate on extra income low, the abatement rate will be 20%.

  • The company tax rate will be reduced to 30% in April 2008.

  • The personal tax reductions will be implemented in two stages in April 2006 and April 2007.

    • ENDS
    Advertisement - scroll to continue reading

    Are you getting our free newsletter?

    Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

    © Scoop Media

    Scoop

    Scoop.co.nz

    Scoop Independent News

    Scoop is NZ's largest independent news source; respected widely in media, political, business and academic circles for being the place on the internet for publishing "what was really said", and for the quality of its analysis of issues.

    Contact Scoop

     
     
     
    Top Scoops Headlines

    COMMENT


     
    work Join Scoop Pro
     
    Submit News
     
    person_add Become a Member
     
     
     
    • Community Scoop
     
     
     
    • Wellington Scoop
     
     
     

    Join Our Free Newsletter

    Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.