McLeod still hoping for tax reforms

Wednesday 4 August 2004

Tax reforms suggested in the McLeod Tax Review of 2001 could be picked up by a new government, according to the report's author, Rob McLeod.

By The Landlord

Soon to step down as chairman of big four accounting firm Ernst & Young, Mr McLeod said the 12-month, $1 million tax review was not a waste of time, even though most of its suggestions were rejected by the Labour Government.

There have been three big tax reviews in New Zealand in recent times, the Ross Review in 1967, the McCaw Review in 1982 and the McLeod Review in 2001.

Many of the recommendations from the previous two reviews were not acted on for about a decade, Mr McLeod said. "That is a pattern. The administrations that call for the reviews don't actually implement a great deal of the recommendations."

Reviews were often a political attempt to "park up the subject". But it paved the way for later administrations to bring in recommendations. The ACT party and to some extent National Party leader Don Brash had embraced some ideas in the McLeod report.

Read More - Opens in a new window
Commenting is closed

Property News

Major industrial development powers on

It’s full steam ahead for the Stevenson Group’s $800 million, 361-hectare industrial and residential development in South Auckland – despite the uncertainties of the post-Covid-19 era.

House Prices

House price drops are short-lived - Alexander

Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.


Resilience needed in face of change

The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.


Mortgage lending slumps to record low in April

Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.

Site by PHP Developer