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Reports of Tax Freedom Day Premature

Press Release – New Zealand Taxpayers’ Union

Public statements by ACT’s David Seymour and accounting firm Staples Rodway that “Tax Freedom Day” is today, are premature according to the New Zealand Taxpayers Union . It cites the OECDs Total Government Outlays as a proportion of the economy …Reports of Tax Freedom Day Premature

8 MAY 2017
FOR IMMEDIATE RELEASE

Public statements by ACT’s David Seymour and accounting firm Staples Rodway that “Tax Freedom Day” is today, are premature according to the New Zealand Taxpayers’ Union. It cites the OECD’s Total Government Outlays as a proportion of the economy as a better measure of the burden of government than the method used by Staples Rodway.

Taxpayers’ Union Executive Director Jordan Williams says, “We are delighted that others have picked up our initiative, however this version by Staples Rodway doesn’t factor in public spending funded by borrowing and other revenue means.”

“According to the OECD figures, this year tax freedom day is Monday 22 May, representing the 39.1% of the economy that is spent by the government. For comparison, Australia’s is only 36.1%.”

“No matter how you calculate Tax Freedom Day though, thanks to the Government not adjusting income tax thresholds to match average changes in earnings, the proportion of tax Kiwis are paying on their income continues to grow.”

Tax Freedom Day is a reminder of why tax relief is overdue. We have laid out five options the Government can deliver tax relief in this year’s budget in a report available at www.taxpayers.org.nz/5_options.

ENDS

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