Misc

No tax joy for the rich

Businesses and the rich can forget a tax cut for the foreseable future while the purse strings are in Finance Minister Michael Cullen's hands. He simply sees no case for it.

Sunday, May 23rd 2004

"If anything, my view has strengthened that (a corporate tax cut) is not the big issue which will drive stronger growth. I think there is no evidence it's true at all," Dr Cullen told The Dominion Post yesterday after Opposition calls for him to use record surpluses to lower business taxes.

He also ruled out cuts to the top personal tax rates, the highest of which is 39 cents in the dollar on income above $60,000 a year.

"It's not on the agenda at this point. As the Budget will make clear, there is not room for substantial revenue reductions in the foreseable future. I think we always are going to have other priorities both in the business sector and in terms of . . . individual rates."

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Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
Wairarapa Building Society 7.15
BNZ - Classic 7.24
TSB Special 7.24
ASB Bank 7.24
ANZ Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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