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Budget 2015: Tax burden continues to rise
Budget 2015: Tax burden continues to rise
“The Government missed a golden opportunity to end stealth tax increases by indexing tax brackets,” says ACT Leader David Seymour.
“The average household is $1036 worse off since the tax changes of October 2010 – a figure that’s increasing each year.
“This Budget was the perfect moment to index tax brackets. With inflation bordering on zero, the effect on government fiscal plans would be relatively small.
“Taxes on New Zealand households will increase when inflation resumes. Ending bracket creep now would force governments to be honest about any future tax increases.”
ENDS
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