National Party leader Simon Bridges has announced National would refund six months’ GST payments to businesses that have lost money due to Covid 19. Businesses would no doubt welcome this windfall. But businesses only collect GST from their customers and pass it on to the government.
Continue readingTag Archives: GST
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
Alliance backs “Robin Hood” day for global tax reform
The Alliance Party is backing the Robin Hood Tax international day of action on Saturday 29 October 2011.
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
No GST on Food petition goes to Parliament with 40 000 signatures
40,000 signatures calling for GST to be removed from food and a tax placed on financial speculation instead will be presented to Parliament at 12 noon on Tuesday 16 August. 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
A big day for a tiny tax on 22 June
Wednesday 22 June 2011 has been declared a “big day for a tiny tax”, highlighting the need for a worldwide financial transactions tax to curb financial speculation and provide the necessary funds to eradicate poverty and protect the environment. Continue reading
Hone Heke meets Robin Hood? Financial transactions tax gains new support
Alliance Party Co-Leader and GST off Food Tax Justice campaign co-organiser Kay Murray says the new Mana Party’s Hone Heke financial transactions tax (FTT) is a great idea.