“.. John Key will unveil measures aimed at cooling New Zealand’s love affair with property investment in a speech today that is expected to outline major tax reforms.
The prime minister signalled yesterday that the changes would be included in the May Budget – and said the Government would be ready to implement them “shortly after that”.
He ramped up expectations that the speech marked a step up in the Government’s economic programme, saying the tax changes were the best way to boost growth.
Cuts to the top personal rate, from 38 per cent to 33 per cent or lower, are likely to be part of the package..
.. but the Government needs to find revenue from elsewhere to do this.
“We will be reasonably specific.
I don’t think you will come away from the speech wondering what we are saying,” Mr Key said.
National has a long-term plan to lower all top tax rates to 30 per cent and Beehive insiders have suggested a rise in GST is on the cards.
Details of the changes were so secret yesterday that they were removed from drafts of Mr Key’s statement circulated to ministers’ offices..”
go to source/story>>Tax plan will hit property investment | Stuff.co.nz
