Scoop has an Ethical Paywall
Personal Tax Cut Good News for Business
Media Release
18 December 2007
Personal Tax Cut
Good News for Business
Businesses, as well as employees, will welcome the government’s latest confirmation that personal tax cuts will be delivered in next year’s budget according to the Wellington Regional Chamber of Commerce.
Treasury’s Half Year Economic and Fiscal Update (HYEFU) and the Government’s Budget Policy Statement revealed a contingency for a personal tax revenue reduction initiative of $1.5 billion.
“Many businesses would not have benefited directly from the company tax reduction announced in last year’s budget,” said Chamber CEO, Charles Finny.
“Around 40% of businesses are unincorporated, for example as sole traders or partnerships, meaning the company tax rate is not relevant to a large proportion of New Zealand businesses.
“We are also pleased that Dr Cullen has stated that the tax cuts will be delivered in a way that does not exacerbate inflationary pressures,” Mr Finny concluded.
ENDS
Bill Bennett: Fixed Voice Rules Head For Deregulation
UN Department of Global Communications: United Nations Proposes New Global Dashboard To Measure Progress Beyond GDP
Banking Ombudsman Scheme: Fraud Check Delays Well Worth The Inconvenience, Says Banking Ombudsman
Asia Pacific AML: NZ’s Financial Crime Gap - Beyond The 'Number 8 Wire' Mentality
Westpac New Zealand: Kiwi Households Adapting Despite Widespread Cost Pressure Concerns, Westpac Survey Shows
University of Auckland: Kids’ Screen Use Linked To Long-Term Deficits In Self-Control And Attention
