Tax Working Group tagged posts

NZ Taxes Unfair for Families

March 25, 2010 New Zealand Taxation

BeehiveThe New Zealand personal-tax system lacks integrity and is unfair for many New Zealand families, and the upcoming budget promises to address the issue, said Bill English, New Zealand Minister of Finance.

Confirming the Tax Working Group’s analysis of the New Zealand tax system, Bill English delivered a speech on March 23rd calling the taxes burden faced by an average working family “unfair and inequitable.” According to the Minister the root of the problem resides in the current definition of income and the proliferation of differing tax rates, which become apparent when individuals or families with relatively similar incomes have significantly dissimilar tax obligations.

Bill English illustrated an example of taxation inequality by drawing attention to a hypothetical self-employed ...

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Key Delivers Economic Future Speech

February 10, 2010 New Zealand Taxation

DSC_5683Putting an end to months of waiting, Prime Minister John Key made his first statement to the Parliament, on February 9th, outlining the Government’s intentions for the tax system, economic growth, along with making the long awaited response to the Tax Working Group Report.

With the countries recent focus on the tax system and possible reforms, John Key initiated his speech by disclosing the Government’s plans for the taxation landscape. He indicated that investigations are currently being held around the feasibility of implementing a raised Goods and Service Tax (GST) rate of up to 15 percent, from the current 12.5 percent. It was revealed that there could be a lowering at all levels of personal tax rates, with particular emphasis on top-earners...

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Summary of the Tax Working Group’s Final Report

January 21, 2010 New Zealand FinanceNew Zealand Taxation

BeehiveThe 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...

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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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