Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Tax Review 'Radical'

The independent Tax Review released today raises some radical ideas, many of which the public will not be ready to accept, Alliance MP and Revenue Under-Secretary John Wright said today.

"The main proposal would introduce a tax on theoretical income from owning a house on the basis that the equity in the house could alternatively be invested in government bonds.

"The Alliance will reject that suggestion, because we believe home ownership is good, and we do not want to encourage home owners to make a home in government bonds.

"The fundamental issue in the tax system is that the Government needs enough revenue to pay for the social services and infrastructure New Zealanders need, such as schools, hospitals, roads and police.

"That revenue has to be raised in the fairest possible way. Or to put it another way, taxation is like plucking a live goose – the object is to extract the maximum number of feathers for the least amount of hissing.

"The fairest tax system is based on the ability to pay, which requires the wealthy to pay a greater share -- especially when many low income earners are struggling to get by.

"I'm encouraged that the review accepted in principle that a financial transactions tax is workable, although it didn't examine the Alliance's FTT proposal.

"The Alliance will continue to develop more work on this area, along with eco-taxes, which were identified as valuable in certain circumstances.

"I'm amazed that the effects of taxation on e-commerce were not considered in the review, when that is a vital and growing new area of the economy," John Wright said.

Ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Tax Working Group’s Road Map

Trying to analyse the interim report on the Tax Working Group (TWG) is like trying to review an entire All Blacks game, but at the half- time mark.

With so much still to be finalised, Sir Michael Cullen and his colleagues are going to need all the All Blacks’ fabled finishing skills to get a coherent, fiscally neutral package together by the February 2019 deadline. More>>

 

Meth Testing Report: Housing NZ "To Right Wrong"

Phil Twyford “Housing NZ acknowledges that around 800 tenants suffered by either losing their tenancies, losing their possessions, being suspended from the public housing waiting list, negative effects on their credit ratings or, in the worst cases, being made homeless.” More>>

ALSO:

No Reshuffle: Meka Whaitiri Removed As A Minister

Meka Whaitiri will be removed as a Minister with immediate effect... The decision was made after receiving a report into an incident that occurred on 27 August in Gisborne, involving Meka Whaitiri and one of her staff. More>>

ALSO:

Pay Equity Bill: Making History For Women’s Pay

The Equal Pay Amendment Bill, introduced to the House today, will make it easier for workers to make a pay equity claim , using a more simple and accessible process within New Zealand’s existing bargaining framework. More>>

ALSO:

Suffrage 125: NZ A Trailblazer For Women

“We acknowledge the work of Kate Sheppard, Meri Te Tai Mangakāhia, and all of the suffragists who tirelessly campaigned for the vote… Today we also need to ask each other: how we can continue to make our country a fairer and better place to continue the legacy of the suffragists.” More>>

ALSO:

Asylum: Refugee Quota Increasing To 1500

“The quota increase will take place from July 2020. In the meantime, we will work to increase the number and spread of refugee resettlement and support services. We need to make sure we’re prepared for this change in policy.” More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels