land tax tagged posts
The Tax Working Group has released its final report on New Zealand’s taxation system, recommending numerous changes to a system it labels as incoherent, along with lacking on integrity and fairness.
After month of waiting, the New Zealand Government and people can see the results of the Tax Working Group’s analysis of the country’s taxation landscape. The results are less than flattering and thirteen primary changes have been proposed to adress the situation.
According to the Tax Working Group’s report New Zealand‘s tax system is inappropriate and relies too heavily on the very taxes that are most harming to economic growth, specifically personal and corporate income taxes...Read More
August 26, 2009 New Zealand Taxation
The idea of introducing a land tax has been proposed in New Zealand.
The Government commissioned Tax Working Group has raised another idea to aid the New Zealand Government’s coffers, a land tax. As it is envisioned and researched by the Tax Working Group at the moment, the land tax will be levied at 0.1% of the unimproved value of land without considering the worth of the buildings on it.
Average households will see a total tax liability of $214 annually, which will raise an additional $460 million for the New Zealand government. Estimates by the Dominion post have claimed that this is enough to lower the top marginal personal tax rate to 33%
According to Bill English, New Zealand Finance Minister, the idea of a land tax is “floating around as an issue”...Read More