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Tax Policy Group Set Up To Consider Taxation System

Fuseworks Media
Fuseworks Media

Wellington, May 8 NZPA - A tax working group comprising of officials, private sector and academic experts has been set up to look at medium term policy options for the taxation system.

Finance Minister Bill English and Revenue Minister Peter Dunne said today the group would assist the Government in considering the key tax policy challenges facing New Zealand.

The group, co-ordinated by Victoria University's Centre for Accounting, will consider the medium-term direction of the tax system, including assessing policy options.

"A strategic review of the tax system is necessary - particularly in light of the challenges posed by the current economic and fiscal environment and our medium-term goal of a 30 percent top personal tax rate," Mr English said in a statement.

"Between June and November, through a series of meetings and papers, the working group will provide tax policy discussion that can feed into advice to ministers and wider public debate."

The group would not make specific policy recommendations, but offer advice on the fiscal framework, and the structure of personal income tax, corporate tax, GST and tax integrity.

The chairman will be Victoria University Pro Vice-Chancellor and dean of the faculty of commerce and administration, Professor Bob Buckle.

The private sector and academic experts on the group will include Rob Cameron, Paul Dunne, Arthur Grimes, Rob McLeod, Gareth Morgan, Mike Shaw, Geof Nightingale, Casey Plunkett, John Shewan, Mark Weldon, John Prebble and David White.

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