2025 Taskforce tagged posts
Within days of the 2025 Taskforce releasing their report to the New Zealand Government and the Tax Working Group’s conference, intense debate has arisen around the changes that need to be made in New Zealand’s taxation system, bringing into question set goals and the methods behind them.
Amid a global financial crisis and worldwide climate of tax changes, the New Zealand Government has created two research groups with the common goal of improving the country’s financial standing. The 2025 Taskforce was charged with forming a framework proposal to close the income gap between Australia and New Zealand. It’s report was released on November 30th.
The Tax Working Group was instate to address New Zealand’s key medium-term taxation challenges...Read More
The 2025 Taskforce published its report to the New Zealand Government on November 30th, suggesting a number of taxation and government spending changes it believes are necessary in order for the country to close any incomes gaps with Australia.
Key suggestions brought forward by the 2025 Taskforce report include lowering the current top tax rate of 38% and the corporate tax rate of 30% to 20%. If suggestions in the report are followed, Government spending in 2012 and 2013 will be reduced to 29% of GDP, from its current estimated 37%. In an effort to materially reduce the Crown’s operating expenses, a medium-term target will be set and the Minister of Finance will be required to publicly report what steps are taken to achieve this goal...Read More