Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Tax Working Group Final Report – 99 not out!

The Tax Working Group (TWG) has made 99 recommendations in its Final Report. The recommendations reflect the wide ranging and detailed nature of the TWG’s work. As we said with the Interim report, that work is good and valuable.


Please click here to read our view on the TWG Final Report and recommendations.


The centrepiece is four packages of measures that the Government may implement. The packages rely on a broader taxation of capital income (CGT) being accepted. The majority of the TWG consider that the fairness impact of a CGT outweighs the costs of a CGT. The packages, which reduce tax in other areas, will only be revenue neutral if a CGT is implemented.

The TWG’s recommendations reflect judgement. The Final Report highlights the trade-offs made and states that reasonable people will have different judgements.

There is no certainty that any of these recommendations will be implemented. The Final Report is now being considered by the Government. Its decisions are to be announced in April with further consultation before an effective date of 1 April 2021 at the earliest.

The TWG encourages further engagement by all New Zealanders in the process. There will be a consultation process and an opportunity to submit to parliament on the implementing Bill.

We encourage you to have these questions in mind:

• What is the direct impact on you of a package in the short, medium, long-term? (i.e. do reductions in tax compensate for a future tax liability)?

• What is the impact of a package at a business, economy and social level?

• Does this make the tax system as a whole better?

The answers will be personal. Hopefully, this and other commentary will help you with your answers.


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Covid-19, 17/9: 1,007 Overall Cases, 4,500,000+ Vaccine Doses Administered


11 new cases of Covid-19 have been identified in Auckland today. 535 so far have recovered from their cases in Auckland alongside 15 of 17 in Wellington... More>>

ALSO:

Gordon Campbell: On the moral and scientific case against Covid booster shots


A year ago, a Covid vaccine was still on humanity’s wish list. Now, we’re basing our economic planning - and the safety of opening our borders – on the ability of the new Covid vaccines to reduce infection, hospitalisation and death. Given this reliance and in the face of an evolving virus, there is a lot of anxiety about how well the vaccines protect us, and for how long. Will we need booster shots, and how soon..? More>>



 
 


Trans-Tasman: Quarantine-free travel with Australia to remain suspended for a further 8 weeks
The suspension of quarantine-free travel (QFT) with Australia has been extended, given the current Delta outbreaks, COVID-19 Response Minister Chris Hipkins said today. “When QFT was established with Australia, both our countries had very few recent cases of COVID-19 community transmission... More>>


Auckland: School holidays remain unchanged

School holidays in Auckland will continue to be held at the same time as the rest of the country, starting from Saturday, 2 October, Education Minister Chris Hipkins said today. “I’ve carefully considered advice on the implications of shifting the dates and concluded that on balance, maintaining the status quo is the best course of action... More>>

ALSO:



Government: Timeline confirmed for Emissions Reductions Plan

Cabinet has agreed to begin consulting on the Emissions Reduction Plan in early October and require that the final plan be released by the end of May next year in line with the 2022 Budget, the Minister of Climate Change, James Shaw confirmed today... More>>

ALSO:


Power: Bill Changes Bring Fairness To Charges

A key recommendation of an independent panel to make electricity charges fairer across all households will be put in place, the Energy and Resources Minister Megan Woods has announced... More>>



Government: Parks expiry of licenses, WoFs and regos
As a result of the Delta outbreak, driver licences, Warrants of Fitness (WoFs), Certificates of Fitness (CoFs), vehicle licences (‘regos’) and licence endorsements that expired on or after 21 July 2021 will be valid until 30 November 2021, Transport Minister Michael Wood has announced today... More>>



Child Poverty Action Group: Highest jump in weekly benefit numbers since first lockdown

The current lockdown has triggered the largest weekly increase in benefit recipient numbers since the first lockdown last year, and Child Poverty Action Group is concerned the Government isn't doing enough to assist affected families... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels