Parliament

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

 

Income splitting stakes ratcheted up

Media statement
For immediate release
Wednesday, 24 August 2005


Income splitting stakes ratcheted up

The value of income splitting for couples with dependant children has increased dramatically, according to United Future finance and revenue spokesperson Gordon Copeland, following National’s decision to move the point at which the top 39 cent personal tax rate cuts in up to $100,000,

“At the present $60,000 threshold for the 39 cent rate, the benefit from income splitting cuts out at a combined couple income of $120,000,” said Mr Copeland.

“United Future policy is to move that threshold to $65,000 which would shift the income splitting cut out level to $130,000. However National wants to move the 39 cent threshold to $100,000 which will move the income splitting cut out level up to $200,000!

“That means a couple with dependant children and a combined income of up to $200,000 would be paying a top tax rate of just 33 cents in the dollar. Accordingly National’s move greatly increases the benefit to couple-led families of income splitting.

“At the existing $60,000 threshold, the number of couples who would benefit from income splitting is 325,000, i.e. 650,000 taxpayers. But at National’s new $100,000 threshold, that number would swell to something in excess of 400,000 couples.”

Mr Copeland pointed out that since United Future is the only party with an income splitting policy, these new realities provide a compelling reason for couples to ensure that United Future is part of the next government, whether led by Labour or National.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Politics Of Scaring Voters Back Into Line

Fear has always been a useful mobilising tool in politics… yet in 2017, bogeymen of all shapes and sizes seem to have fallen on hard times. For years, the National party had painted itself as being the only reliable defensive bastion against the terrifying prospect of a centre-left government…

In fact, the polls suggest that the public seems to quite like the new government, its Prime Minister, and its proposed plan of action. Somehow, even though a Labour/Greens/NZ First government is in power, the sun is still rising and setting, on time. More>>

 

Gordon Campbell: On Drinking Water As A Failure Of Political Leadership

It is almost possible to feel sorry for the Health Ministry in their terrible, no good, very bad week... More>>

ALSO:


Gordon Campbell: On Saying ‘Work For The Dole,’ Nicely

As New Zealand First learned the hard way from its two previous periods in government, small parties in MMP coalitions get blamed for the unpopular stuff done by their senior partner in power, but no one remembers the good stuff the junior player brought to the table... More>>

ALSO:

Seismic Blasting: Greenpeace Launches Legal Challenge Against Amazon Warrior

A legal challenge against the world’s largest seismic oil exploration ship was launched at a public rally on Parliament Lawn. More>>

ALSO:

Tertiary: 80,000 People Eligible For Fees Free

The Government has today made good on its 100-day promise of delivering the first year of fees-free post school training and education and industry training from 1 January next year, says Education Minister Chris Hipkins. More>>

ALSO:

PM's Presser: Rebuilding Cathedrals, Felling Trees

Prime Minister Jacinda Ardern attended the press conference today with Minister for Greater Christchurch Regeneration Dr Megan Woods to announce urgent legislation this week for the rebuilding of the Christ Church Cathedral. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages