Friday, May 18, 2007

What Cullen said about the top tax rate

"Ninety-five percent of people will not be asked to pay more tax. Instead, only the top 5 percent of income earners will pay more. The increase is expected to bring in $465 million in extra revenue in the next fiscal year."

No, it wasn't this budget

He also said "The benefits of living and working in New Zealand come from the type of society that we build."

I guess thats why lots of people are going overseas.

"Similarly, we will also look at restricting opportunities to avoid tax by interposing trusts or companies. The issues are complex, and consultation will be necessary, so these measures are not included in this bill. However, in the meantime, my advice to anyone considering aggressive measures to avoid the policy intent of this bill is: don't waste your time and money".

My advice to anyone: don't believe Cullen.

1 comment:

Anonymous said...

The real sadness here is that Business has been shafted by being supposidly given a tex break one way and then having it taken off them another and an increasing one year after year after that.

Will the rest of NZ see this for what it is?
Will they understand that if business isn't given an environment to excel then the pie won't grow?

Everyone gets poorer as our competition isn't going to let us catch up.

I don't think so not as the Sisterhood to keep power has added more and more people to the handout queue.

Even the middle classes now with the families handout now!

Tax cuts for all I say.
but then who are we to say anything @ 39%