Give us back our money Dr Cullen

Monday 6 September 2004

Will someone please explain why we are paying so much tax? We know that the Government's coffers are bulging, thanks to the booming economy generating tax-paying jobs for more people – and at the same time reducing welfare payments – and fuelling higher company profits.

By The Landlord

But what we don't know, in the absence of a clear explanation from the Government, is why tax cuts remain so firmly off the policy agenda. It's as if ministers are terrified that we might find something better to do with our own money if we get some of it back.

Any remaining economic rationale for the Government's swift move to raise the top personal tax rate five years ago has evaporated in the heat of successive big Budget surpluses.

To be fair, the move was always much more about politics than economics: it was felt the so-called "rich" earning more than $60,000 a year were not paying their share, so their top tax rate was pushed to 39 cents in the dollar from 33 cents.


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 loosening likely - ANZ

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.

Site by PHP Developer