INDEPENDENT NEWS

Another Labour Tax Revelation

Published: Wed 13 Oct 1999 08:00 PM
Rt Hon Sir William Birch
Minister of Finance and Minister of Revenue
13 October 1999
For Immediate Release
"Almost every day there is a new revelation of what a Labour Government would do to increase taxes," Finance Minister Sir William Birch said. "Today's is to tax people receiving pensions from superannuation schemes." Sir William was commenting on the item in The Independent reporting Michael Cullen as proposing a new super scheme, to run in parallel with the old, which would tax the pensioner when the benefit is paid.
"This proposal to have several hundred thousand pensioners pay tax on their pensions makes a mockery of Labour's claim that the only tax increase a Labour-led Government would impose would be to increase the rate of personal income tax on incomes over $60,000 a year," said Sir William.
Ends

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