30 Years of GST is 30 Years Too Many

The 1st of October 2016 marked 30 years since Roger Douglas and his Labour government dropped the tax rate for New Zealand’s wealthy from 66% to 48% (and later 33%) and gave the rest of us GST.

GST was a bad idea in 1996 and it is an even worse idea today. It means that everything we pay money for is 15% more expensive than it needs to be – from doctors visits, to prescription charges, to school uniforms, to food. Continue reading

$207 Million Per Day in Share Trading And No One’s Thinking About A Financial Transactions Tax. Seriously?

The NZX has reported that average trades increased in value in October by 56% to an eye-watering $207 million – per day.

That is $207 million worth of share transactions each day that no GST is paid on. For reasons that have never been made entirely clear, financial services, unlike other goods and services, are exempt from GST.

The government claims it is strapped for cash, especially when it comes to spending on essential services such as health, education, infrastructure, and social welfare. With the record-breaking turnover on the NZX, surely it is time to look at taxing financial transactions. Continue reading

GST Is Past Its Use By Date

GST was first introduced in 1986. Most workplaces used typewriters. Businesses were coming to grips with the fax machine. EFTPOS was still in its trial phase.

There was no internet in New Zealand. Share trading and currency speculation were not a significant feature of the economy. Personal overseas shopping had to be done in person, overseas.

Three decades on GST is no match for the global marketplace that is now accessible to everyone with a PC and an internet connection. No amount of tinkering will change that. Continue reading

Why New Zealanders are backing no GST on food campaign

A petition signed by 40 000 New Zealanders asking for GST to be removed from food will be presented at Parliament at noon tomorrow Tuesday 16 August 2011.

The petition also requests that a financial transactions tax – sometimes referred to as a “Robin Hood Tax” or “Hone Heke Tax” – be introduced, which would cover the cost of removing GST from food. Continue reading

Labour are welcome to borrow Alliance capital gains tax policy

The Alliance Party has congratulated the Labour Party on adopting its capital gains tax policy.
Alliance Party co-leader Kay Murray says Labour should have introduced the capital gains tax during its last term in office.
This may have helped make housing more affordable during the so-called housing boom during the last Labour Government.
Continue reading