ALDRICH: Tax Freedom Day hardly reason to celebrate winnipegsun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from winnipegsun.com Daily Mail and Mail on Sunday newspapers.
OPINION: Mention the word “tax” to most people and they’ll tell you it’s boring. Then mention individual changes to the system that affect landlords, like interest tax deductibility on residential rentals and the bright line test. Or the idea of shifting our income tax bands to stop Kiwis on “average” incomes slipping into the next bracket up. Suddenly everyone’s talking at once. Because the truth is, tax affects every one of us – there’s a saying about it. Whether the government is spending it, collecting it, or we’re saving it, it has the power to make a huge difference to our lives. Tax policy matters.
In April 2020, the corporate tax take was 83 per cent down year-on-year but by September provisional tax payments had increased to 41 per cent above the previous year’s. Alcohol tax was up a fifth from August to December and petrol tax was up nearly 50 per cent in October compared to a year earlier. In 2019, New Zealanders only had to work until May 9 to cover their total tax bill, and in 2017, it was May 8. Rudd said the increase in days over that period was largely due to bracket creep – the fact that wages had been increasing but the tax brackets had not.
But Covid measures mean more tax on the way, according to Baker Tilly Staples Rodway.
Even after the turmoil of the past 14 months, the so-called Tax Freedom Day for 2021 has arrived two days earlier than last year, but the early arrival of ‘freedom’ is
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