Tax Relief On The Horizon
Tuesday 23 March 2004
Significant tax relief is in line for low and middle income families in the May Budget.
By The LandlordFinance Minister Michael Cullen says latest figures shows the average single production worker in New Zealand pays the third lowest tax in the OECD and with two children he comes in at number nine.
Dr Cullen says that is about to improve even further from ninth to the fourth lowest rate.
However National's associate finance spokesman John Key says the average kiwi household is paying $2,600 a year more in tax under a Labour Government.
Mr Key says in the past 12 months the average tax rate has increased faster than any other OCED country.
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LVR restrictions were never meant to be a permanent feature of New Zealand’s housing market and ANZ economists argue that some further relaxing of them could soon be on the cards.