Submission: Taxation (Income Tax Rates) Bill

New Zealand Business Roundtable
1 March, 1997

In 1996 parliament passed legislation to give effect to the government's tax reduction and social policy programme. The programme provided for a reduction in personal rates of tax in July 1996 and 1997, increases in family support and guaranteed minimum family income (GMFI), and the introduction of an independent family tax credit for low and middle income families that earn market incomes. It also contained changes to benefit and superannuation arrangements. A laudable goal of the programme was to "assist, strengthen, and empower low- and middle- income families in their efforts to achieve higher income and [a] better quality life."

Stay in the loop: Subscribe to updates