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

 

Higher Inflation Will Create An Income Tax Grab


Higher inflation figures show the urgent need to switch to inflation-adjusted tax brackets, says the New Zealand Taxpayers’ Union.

Union spokesman Louis Houlbrooke says, “In 2010, the 30 percent income tax rate was set for income over $48,000. Back then, that was a fairly comfortable salary. But today, due to inflation, you’d need to earn $57,000 to have the same purchasing power. This means that poorer New Zealanders are now getting whacked with the 30 percent marginal tax rate.”

“Successive Governments have got away with this stealth tax hike because inflation has occurred very gradually. But the new higher inflation figures suggest the effect of ‘bracket creep’ is about to get far more painful.”

“Inflation has a nasty effect on Kiwis’ abilities to meet household budgets. The Government shouldn’t be making things worse by exploiting inflation to take even more tax.”

“The Government continuously adjusts benefits and superannuation for the average wage, while the taxpayers who fund these payments don’t even get a measly inflation adjustment. That’s neither fair nor kind.”

“We’re calling on the Government to support Simon Bridges’s bill to end bracket creep. In fact, they should urgently adopt it as Government legislation in response to accelerating inflation.”

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Supermarket Scam, And On Tunisia’s Scrapping Of Democracy

Are we paying too much for our groceries? Hmm. Is the Pope a Catholic? Given that the two Australian supermarket chains that dominate our grocery industry routinely rack up profits in the order of $22 billion annually, that’s a no-brainer. Yet as with New Zealand’s other socio-economic problems created by our 1980s reforms, the practical solutions seem pretty thin on the ground... More>>

 



Government: Bill Introduced To Protect Against Conversion Practices

Legislation has been introduced to Parliament to protect against practices intended to change or suppress someone’s sexual orientation, gender identity, or gender expression... More>>

ALSO:

Government: Welcomes Draft Report On The Retail Grocery Sector

The Commerce Commission’s draft report into the retail grocery sector is being welcomed by Government as a major milestone. “I asked the Commerce Commission to look at whether this sector is as competitive as it could be and today it has released its draft report for consultation,” Commerce and Consumer Affairs Minister, David Clark said... More>>

ALSO:

Child Poverty Action Group: Poverty Burden For Children Increased Due To Government Neglect - New Report

Poverty, inequity, homelessness and food insecurity are among the burdens which increased for tamariki Māori and other children in the first year of Covid-19 - partially due to Government neglect... More>>



NZUS Council: Welcomes Nomination Of Senator Tom Udall As US Ambassador To NZ

The NZUS Council welcomes the nomination of Senator Tom Udall to the role of US Ambassador to New Zealand and Samoa, NZUS Council executive director Jordan Small said... More>>

BusinessNZ: Visa Extensions Welcomed
BusinessNZ has welcomed the extension of some critical skill visa durations and changes to immigration systems to speed processing. Chief Executive Kirk Hope says move acknowledges advocacy by the hospitality sector, the BusinessNZ Network and others, and comes not a moment too soon.... More>>



Social Development: Government Initiatives Contribute To Fall In Benefit Numbers

Minister for Social Development Carmel Sepuloni has welcomed the release of the June quarter Benefit Statistics which show a continuing fall in the number of people receiving a Main Benefit... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels