Taxes an Election Hot Topic in New Zealand

September 15, 2017 Taxation in New Zealand

Tax in New ZealandWELLINGTON – The elections in New Zealand are heating up, and taxation is shaping up to be an increasingly important issue.

On September 14th the New Zealand Labour Party stated that it would not implement any new taxes in the country until at least 2021.

The Labour Party is the current opposition party, which has been attempting to oust the ruling National Party.

However, the Labour Party has been facing criticism for their lack of concrete tax plan and their promise to launch a working group which will evaluate whether any tax changes should be implemented in New Zealand.

Now the party has confirmed that the working group will still be formed, however, any changes suggested by the group will not be enacted until the next national election in 2021.

However, the party will still continue with some of their previously proposed tax changes, such as the amendments to the treatment of profits from property sales, and the introduction of levies on water and tourism.

If elected the Labour Party would also drop the planned tax cuts which were put into rule by the current National-led government.

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