tax cut tagged posts
July 22, 2014 New Zealand Taxation
Targeted tax measures could help exporters in New Zealand.
On July 21st the New Zealand First party issued a transcript of a speech delivered by Winston Peters, listing several of the party’s policies in regards to supporting the national export industry, suggesting that new tax measures could be to boost the sector.
According to Winston Peters, New Zealand First will provide tax incentives to businesses to engage in research and development activities, boosting innovation in the country, and helping increase the rate of growth of exports out of New Zealand.
He added that New Zealand First believes that export businesses should enjoy a lowered corporate income tax rate of 20 percent.
Photo By: www.GlynLowe.comRead More
The Green Party is claiming that the national assets sales are a means of funding tax cuts for the highest-earners in the country.
In a press release issued on December 2nd the Green Party has claimed that the revenues raised in the recent sale of national assets has yielded less revenue than the tax cuts provided to top earners over the last few years.
According to the Green Party, since 2009 and 2010 when the top marginal tax was cut from 39 percent to 38 percent, and from 38 percent to 33 percent respectively, the cumulative reduction in tax collections from the top 10 percent of earners is nearly NZD 4.5 billion.
Conversely, the projected revenues from the sale of government-owned assets is expected to only reach NZD 3.9 billion.Read More
In the statement the Green Party Co-leader Dr Russel No...
March 21, 2013 New Zealand Taxation
New Zealand could see significant economic benefits if the government opted to cut personal income taxes.
On March 20th the Treasury of New Zealand released the report of the Taxation of Savings and Investment Review, which investigated the potential repercussions of various changes to the tax system, finding that New Zealand would benefit the most from reductions to the rate of personal income taxes.
The conclusions in the report were based on whether changes to the tax system would increase the overall levels of savings and investment in New Zealand, and whether the change would reduce macroeconomic vulnerabilities of New Zealand or boost overall economic efficiency in the country.
The Review suggested that deceases to personal income taxes would provide the most benefits to New Zealand...Read More
November 29, 2012 New Zealand Taxation
New Zealand is being urged to increase incentives for film makers, despite protestations from the Prime Minister.
Speaking in a radio interview on November 27th the Director of the Hobbit films Peter Jackson said that the New Zealand government needs to ensure that the tax incentives offered to film makers are competitive with those offered in other countries.
Peter Jackson explained that several other countries offered tax breaks and concessions to film makers in order to encourage more film productions, and that the New Zealand government may need to increase their own tax concessions to remain competitive.
So far the producers of the Hobbit films have received NZD 67 million in tax rebates, as part of the government’s Large Budget Screen Production Grant.
Responding to the Director’s co...Read More