Phil Goff Promises No Tax Rise

September 17, 2009 New Zealand FinanceNew Zealand Taxation

Labour Party Leader Phil Goff has made a myriad of promises to New Zealand in regards to his party’s future taxation ideas.

On the 12th of September at a Labour Party conference in Rotorua, Phill Goff, Labour Party leader vowed that if Labour were to be re-elected there would be no rise in personal taxation, GST or introduction of Capital Gains tax.

The concession on the capital gains tax remains that it applies exclusively to first homes and not investment and rental properties. It was also emphasized that any possible tax cuts will be prioritized and aimed towards low-income families. He described the party’s future focus as catering to average New Zealand households.

Further, Phil Goff made statements regarding a reform in the perception of the economy. He is encouraged by New Zealand’s recovery and that of its trading partners, like China. The relatively low level of governmental borrowing warrants some level of optimism for the future. He made reference to previous Labour party leadership and decisions, and apologized to the New Zealand public for mistakes made.