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

 

Tax cuts: Let the games begin

5 November 2007

Let the games begin

The lack of detail in the Government’s tax cut announcement, along with the cat-and-mouse political game around timing could risk disillusioning voters and do little to staunch the tsunami of New Zealanders heading to Australia, says Ernst & Young Tax Director Jo Doolan.

“If we are serious about trying to retain our skilled work force we should demand the cards are put on the table now, not in April or some other suitable time to coincide with the election.

“Why is it that we know all about the future personal tax reductions in Australia - with the result anyone earning $200,000 or less is better off living there - but in our own country we are not afforded the same treatment?

“Holding out this is not an election issue insults the intelligence of the electorate.

“When making corporate tax changes the Government is diligent about ensuring it consults with all the interested parties and is often credited with actually listening rather than going through the motions.

“Why is this not also on the cards with personal tax cuts - let’s put the options before people and let them have a say,” she says.

With the likely announcement for any decisions being early April it does not seem that we will be seeing any details of the tax cuts likely before the next election, says Jo Doolan.

Meanwhile, she says, the public is left to speculate on several scenarios – whether it be the reintroduction of the so-called chewing-gum tax cuts which offered between 67 cents and $10 a week; the average of an extra $45 a week under National’s proposals from the last election; or, Revenue Ministers Peter Dunne’s wish list fulfilled at a 30% top personal tax rate.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Government: David McLean Appointed As KiwiRail Chair

David McLean has been appointed as Chair of KiwiRail Holdings Ltd, the Minister for State Owned Enterprises Dr David Clark and Minister of Finance Grant Robertson announced today... More>>


Dairy NZ: ‘More Milk From Fewer Cows’ Trend Continues In A Record Year
Vodafone says it has 10,000 customers using its Wi-Fi Calling service. It took less than three months to reach that milestone; the service began operating in September... More>>

Statistics: Consents Remain At Record Levels
There were 47,715 new homes consented in the year ended October 2021, up 26 percent compared with the year ended October 2020, Stats NZ said today. "The year ended October 2021 marks another record for the annual number of new homes consented,” construction statistics manager Michael Heslop said... More>>



Fonterra: Lifts Forecast Farmgate Milk Price Range And Revises Earnings Guidance At First Quarter Update

Fonterra Co-operative Group today lifted its 2021/22 forecast Farmgate Milk Price range, reported a solid start to the 2022 financial year and revised its earnings guidance... More>>


Canterbury Museum: New Research - Bald Haast's Eagle Feasted On Moa Guts

New Zealand’s extinct Haast’s Eagle (Hieraaetus moorei), the largest known eagle, gulped down viscera like a vulture and may even have been bald, new research suggests... More>>

ABC Business Sales: Demand High For Covid-proof Businesses
Despite the continuing challenges facing businesses in this Covid environment, right now there are more buyers looking for a small-medium sized business than there are sellers in the market... More>>


PriceSpy: Producer Prices Increase
New Black Friday and Covid-19 Report* released by PriceSpy says people’s fear of stepping inside physical shops during big sales events like Black Friday has risen since last year; Kiwis are still planning to shop, but more than ever will do it online this year... More>>