The Labour / New Zealand First coalition, combined with the Green Party’s confidence and supply agreement, present interesting opportunities for the New Zealand tax system. Political tax policy discussion to date has focused on specific tax issues. However, with the impending formation of the Tax Working Group, there is now a real opportunity for us to engage in a broad tax policy discussion and to assess future options for our tax system.
The Labour-led Government has stated that it is committed to a progressive tax system where taxpayers contribute to society equitably according to their means. This commitment is evident in the 100-day plan announced by the new Government. It will be interesting to see over the next Government term, and particularly the next 100 days, which election policies are given priority. In terms of tax issues, we expect the new Government to focus on social reform, housing issues, and the commencement of a tax system review by way of a Tax Working Group.
Download the latest Tax Tips Alert for a full summary of the key focus areas from a tax perspective and the proposed steps to address these.
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