Gordon Brown’s reforms to CGT encouraged stock market speculators and private equity asset strippers, while it was the Thatcher government that brought rates into line with income tax.
Both the Conservatives and Labour have promised not to raise income tax, national insurance or VAT should they win the election – but most voters don’t believe them.
Peter Martin, Crawford School of Public Policy, Australian National University
Life hasn’t been this unaffordable in Australia in 40 years. There’s still time to redesign tax cuts starting next July – which would give $9,000 to high earners but just $1,000 to ordinary earners.
You may feel little sympathy for people in the top bracket of earnings, but don’t let that stop you reading. Like it or not, their views and actions matter to everyone
Purporting to distribute money to children to take advantage of their tax-free thresholds sends
a message about how important it is to be truthful when complying with the tax law.
The federal government wanted to give taxpayers a couple months to prepare the year’s taxes. But as filing became more complex, the date was pushed back.
Lisa Marriott, Te Herenga Waka — Victoria University of Wellington
Heading into the 2023 election, politicians and commentators have said New Zealand’s tax needs to be fairer. But opinions on how to make the system fairer vary wildly.
Taxes are more than mandatory payments required by governments. Understanding the essential aspects of taxation can help prevent ethically and legally questionable taxes from being imposed.