No tax joy for the rich
Sunday 23 May 2004
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.
By The Landlord
"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."
Read More - Opens in a new window
Commenting is closed
Property News
Return to market form
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
House Prices
No stopping Capital price rises
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
Commercial
NZ proptech start-up scores major investor
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
Mortgages
LVR limits slow down investors
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.
