tax cuts tagged posts

Government Needs to Halt Oil Subsidies

June 11, 2013 New Zealand Taxation

ExplorationThe Green party has come forward to say that the New Zealand government should stop supporting oil exploration and should instead support sustainable energy sources.

Late last week the Green Party released a new statement, claiming that the government should stop providing tax subsides to companies operating in the country’s oil and petroleum sectors.

According to the Green Party, the oil and gas industry in New Zealand receives approximately NZD 46.29 million in tax subsidies every year.

The majority of the tax breaks are granted to overseas companies involved in oil exploration activities around New Zealand.

The Green Party says that “…the fossil fuel industry is contributing to runaway climate change, and yet the National Government is transferring public money to facilitate more fossil...

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Government to Continue Pursuing Tax Cuts

January 13, 2010 New Zealand FinanceNew Zealand Taxation

DSC_5676New Zealand Prime Minister John Key has given indications that the New Zealand Government will continue to investigate the viability of personal tax cuts in 2010.

At his first press conference for 2010 John Key summarized the Government’s goals for the new year, and said that “Shoring up the tax base and ultimately lowering personal tax rates are important”. Though he provide no further details, John Key said that further explanations on the Government’s economic position will be provided on February 9th, at the opening of Parliament.

Ultimately, no further decision on personal taxation can be expected before discussion on the findings of the Tax Working Group, a government sponsored collective charged with investigating the country’s taxation future...

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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...

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Tax Cut Faces Delays

May 11, 2009 New Zealand Taxation  No comments

The 2010-2011 eleven National Party promised personal tax cuts could be faced with a delay.

In an interview with Newstalk ZB, New Zealand Prime Minister John Key stated that the idea o cancelling the upcoming promised tax cuts would certainly not be an idea that he would support, although the option of delaying the cuts would be acceptable to him.

It seems from John Key’s comments that much effort was expanded in either keeping the level of funding for entitlements equal or even raised. Combined with the rising budget deficits, lowering trade surpluses and the seeming preferences of New Zealand of not accepting tax cuts if they come at the cost of raised government borrowing, the room to maneuver for tax cuts seems diminishing...

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