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Tax

Minor Parties And Unions Criticise Tax Package

Minor parties and trade unions found nothing to praise in National's tax cuts policy. * The Greens described it as "a fake free lunch" which would increase debt, widen the gap between rich and poor and suck resources out of research and science.

National Winds Back Infrastructure Spending Plans

National has wound back its plans for a large boost to infrastructure spending if elected to government. As part of its wider economic and tax cut package released today, National also included some details on its fiscal strategy.

R&D Tax Credit Nice But Too Expensive - Nats

Research and development tax credits for business are a luxury that should be axed to fund personal tax cuts, National's finance spokesman Bill English said today.

Some Lose Out Under Nats' Tax Plan

Lower income earners who get Working for Families, lower income KiwiSavers and companies receiving research and development tax credits are the losers under National's tax package.

National's Tax Plan To Give Workers $18 A Week Extra

Workers on the average wage would get an extra $18 a week from April 1 next year under National's tax package, funded mainly through trimming back the KiwiSaver scheme. National leader John Key today outlined National's tax package in Auckland.

Key To Announce Tax Cuts And Economic Recovery Plan

John Key will reveal National's tax cuts today after saying they have had to be scaled down in the face of a decade of forecast budget deficits.

National To Scale Back Tax Plans Due To Economy

The sight of red ink bleeding from the Government's books has led to National scaling back the tax cuts package it will announce tomorrow. Yesterday, Treasury predicted there would be years of deficits ahead and an increase in borrowing to meet the cash gap.

Cabinet Oks New Secondary Tax Rate From 2010

Cabinet has agreed to a new bottom secondary tax rate of 12.5 percent, Finance Minister Michael Cullen and Revenue Minister Peter Dunne announced today. The ministers said the decision flowed on from the personal tax cuts announced in the May budget.

Economic Woes Lead To Nats Bringing Forward Tax Plan

The ongoing credit crisis threatening to seriously hit the world economy has led to National bringing forward its tax cut policy announcement to next week.

Key Set To Unveil Tax Plan Next Week

National is set to unveil its tax cut package next week, party leader John Key says. Labour's tax cuts, which deliver between $12 and $28 a week to most wage earners, take effect today.

Tax Cuts From Tomorrow, But What Will National Offer?

Workers will be better off by between $12 and $28 a week due to much debated tax cuts coming into effect from tomorrow. The first tax cuts in a decade come as the world economy is thrown into turmoil with the United States Government grappling with the credit crisis.

Union Says Tax Cuts Will Put Jobs At Risk

Tax cuts will put public servants' jobs at risk, a union says. The Public Service Association is taking out a series of advertisements saying that every 10 cents a year in tax cuts represents the jobs of seven public servants.

Bill English Talks Tax Cuts

National finance spokesman Bill English has reignited speculation the party will offer tax cuts of around $50 a week. Ahead of the May budget National's leader John Key said in an interview with The Dominion Post that it intended to give "meaningful" cuts "North of $50".

Dunne Proposes Partnership Tax Changes

The Government wants to change the law to ensure the death of a spouse in a husband-wife business partnership does not result in immediate tax liabilities, Revenue Minister Peter Dunne said today.

Updated UK-NZ Double Tax Agreement Kicks In

An updated double tax agreement between New Zealand and United Kingdom is effective from today. Revenue Minister Peter Dunne said the agreement, first signed in 1983, strengthened cooperation between the countries in enforcing and collecting tax.

Support For Income Splitting For Tax

United Future leader Peter Dunne says 90 percent of people who made submissions on a document on income splitting support the idea. United Future achieved the discussion document as part of its confidence agreement with the Government.

IRD Overloaded Say Accountants

Wellington, Aug 27 NZPA - The Inland Revenue Department is overloaded with new initiatives such as KiwiSaver and other taxation work is getting put on the back burner, accountants say.

Police Access To Tax Records 'Undermines Integrity'

Proposals to give police free access to confidential taxpayer information made a mockery of Inland Revenue confidentiality laws, MPs were told today.

Govt Announces Business Tax Law Changes

The Government has introduced a bill to Parliament that ministers say will reduce tax costs for businesses.

Union Poll Finds Voters Wary Of Bigger Tax Cuts

A union-commissioned poll has found that if bigger than budgeted tax cuts meant cuts to public service spending or more government borrowing then the majority don't want them.

Govt Issues Discussion Paper On B-to-b Gst

The Government has issued a discussion paper setting out options for ensuring business-to-business transactions are neutral in terms of GST.

United Future Outbids Govt On Tax Cuts

The United Future Party has released a policy that would deliver bigger tax cuts than those announced by the Government in last month's budget.

The Other Side Of The Tax Cut Coin

Wellington, May 25 NZPA - Get a tax cut and lose your home. That would be a catastrophic trade-off for having an extra $20 dollars or so in the hand each week, or two blocks of cheese as the National Party puts it.

Tax Cut Bill Passed Under Urgency

A bill to put the Government's tax cut programme into law passed this afternoon. The Taxation (Personal Tax Cuts, Annual Rates and Remedial Matters) Bill passed under urgency as Parliament does not usually sit on a Friday.

Budget - Business Tax Requirements Simplified

Changes to tax return requirements will reduce compliance costs for business, the Government says. Legislation would be introduced next month.

Workers, Pensioners Benefit From Budget

Workers and pensioners will get a lift in their income from October and further tax relief in 2010 and 2011, but many people will think it is too little too late.

Key Points In The 2008 Budget

* The Government commits $4.8 billion in 2008/09, rising to $7b in 2011/12 in operating spending and revenue initiatives and $1.9b in new capital spending between 2008/09 and 2011/12;

Tax Cuts For All From October

Tax cuts starting before the election were unveiled by Finance Minister Michael Cullen in the budget today.

October Start Date For Tax Cuts

By Peter Wilson of NZPA Wellington, May 22 NZPA - Finance Minister Michael Cullen has delivered an election-year budget with across the board tax cuts that start on October 1.

Look At Discretionary Spending Not Tax Cuts - Peters

Relief for the financially stressed should look at discretionary spending, not focus on tax rates, New Zealand First leader Winston Peters says.

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