national party tagged posts

Labour Party to Launch GST Protest Tour

February 24, 2010 New Zealand Taxation

Phil GoffThe New Zealand Labour Party has announced that it will be launching a cross-country bus tour in protest to the National Party’s proposed Good and Service Tax rate increase.

Phil Goff, Labour Party leader, announced on February 22nd that a two week protest bus-tour will be launched on February 28th to fight the possibility of a the GST rate being raised to 15 percent. He claimed that the tour’s aim was to visit New Zealand communities and “to show them just how unfair John Key’s plans to hike GST are.” The protest plan also includes several visits to local community groups like Grey Power, Citizen’s Advice Bureau, and any local budgeting services.

While introducing his protest-bus idea, Phil Goff claimed that the National Party had not campaigned with the promise that it would raise...

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End of Tax Cut Times

August 4, 2009 New Zealand Taxation  No comments

New Zealand’s era of tax cuts is over, according to Finance Minister Bill English.

Bill English put a blunt message forward to New Zealand, the time of tax cuts has passed. On the 2nd of August at National Party conference in Christchurch, Bill English stated that “There is no possibility of just cutting taxes.”

Bill English said that the government is projecting deficits of up to NZ$12 million, which leaves no room for tax cuts. There has already been an effective cancellation of the National Party’s promised personal tax cuts.

Further, Bill English commented on the upcoming “first-principals” review of the Australian tax system, and not wanting to be caught out with previous tax engagements by some possible innovative change that might be made...

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Tax Cuts Lead to MP Salary Falls

January 22, 2009 New Zealand FinanceNew Zealand Taxation  No comments

New Zealand Prime Minister seems concerned by the level of government spending amidst a recession and raised expenditure on planned tax cuts. He claimed that the government should not raise salaries of its Ministers of Parliament and other governmental positions.

The move to counter the effects of the tax cut inflicted deficit on the Government budget will be made in the form of a suggestion by the National Party to the Remuneration Authority.

Ironically John Key’s wealth has been valued at over NZD$50 million. His current Prime Minister salary is at $393,000. He is reputed to donate a significant portion of this to charity.

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KiwiSaver Changes Passed

December 11, 2008 New Zealand FinanceNew Zealand Taxation  No comments

The New Zealand government proposed lowering of contributions to KiwiSaver have been passed through law.

On the 10th of December parliamentary debate ended with the Taxation (Urgent Measures and Annual Rates) Bill passing, with 68 votes for and 52 votes against. Along with confirming in law changes to personal taxation levels and income brackets for the next three years, the Bill alters the way in which KiwiSaver contributions are made.

Under the newly passed laws KiwiSaver contributions are cut from an option of 4% or 8% to 2% of an employees weekly wages. Further changes include the employers contribution now being set at 2%, and the concept of an employers tax credit for the contribution being removed.

Further confirmed changes include the scrapping of the $40 fee subsidy to each cont...

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