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More than half say they are worse off after major tax reform

November 21, 2010
Media release

More than half say they are worse off after major tax reform

Only 8.2% say they feel better off as a result of October’s major tax reforms.

Some 53.5% say they are worse off after tax cuts and rises in benefits and GST.

Some 35.6% say they are neither better nor worse off, according to a nationwide HorizonPoll (www.horizonpoll.co.nz) survey of 1,558 people conducted between November 16 and 19.

Weighted to represent the New Zealand population, the maximum margin of error is ± 2.5%.

Those saying they are worst affected are in lower income households, but even in households earning $200,000 plus more than half feel worse off, only a quarter better off.

More than 70 out of 100 households earning $20,000 a year or less (71.5%) feel worse off. Among households earning between $20,000 and $30,000 a year 60% worse off.

Among households earning between $100,001 and $150,000, 39.3% a year feel worse off (19.6% better off). Some 53.2% of those in households with incomes $200,000 plus feel worse off (24.6% better off).

Some 5.5% of households earning $30,000 to $50,000 feel better off, 54.3% worse off.

Among middle income households earning $50,001 to $70,000 a year 11% feel better off, 45.9% worse off.

By age, 18 to 24 year-olds have the highest better-off result at 11.2%, followed by those aged 65-74 years (9.5%). Among 24 to 34 year-olds only 4.3% feel better off, the lowest score.

The tax reforms fail to leave the governing coalition parties’ voters feeling better off.

While more voters for ACT say they feel better off (25.8%), 38.6% say the reforms have been neutral and 32.3% feel worse off.

Among National voters, 14.9% feel better off, 44.6% neutral and 37.3% worse off.
Some 46.1% of Maori Party voters feel worse off and 5.6% better off.

10.3% of United Future voters feel better off, 57.5% worse off.

Only 4.2% of Labour voters feel better off, 30.4% neither better nor worse and 62.9% worse off.

The reforms leave 7.2% of Green Party voters feeling better off, 26.6% neither better nor worse and 64.6% worse off.

Among smaller parties’ voters, 73.2% feel worse off.

By ethnic group, Indians are the most likely to feel worse off. 73.5% say the changes have adversely affected them. Among Asians 46.1% feel worse off, Maori 43% and New Zealand Europeans 51%.

Question asked:

GST and tax reform
On October 1 this year the Government increased GST from 12.5% to 15%, and increased benefits and reduced personal income tax rates.

Overall, do you feel better or worse off as a result of the GST rise, benefit increases and tax cuts?

Much better off 1%
Better off 7.2%
Neither better nor worse off 35.8%
Worse off 35.4%
Much worse off 17.9%
Not sure 2.6%

Results tables are available at www.horizonpoll.co.nz where the survey continues.

Ends

Horizon Research Limited

On the web: www.horizonpoll.co.nz

© Scoop Media

 
 
 
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