This weekend’s New Zealand general election offers some choice in GST policy.
So, if you’re a GST geek like me you might be swayed by what the different parties intend doing about GST.
Here’s what I’ve been able to find out about some of the main parties’ GST policies:
Labour Party – no change to base or rates. Committed to simplifying compliance and supports “one hour, one return, one payment” principle for monthly GST and income tax compliance.
Green Party – no change to base or rates. Propose extra ecological taxes but will leave detail to a commission. Also, propose financial transaction tax. [comment – subject to seeing the detail, the existing GST system could be one way of achieving these new tax imposts].
National Party – no change to base or rates.
Mana Party – propose abolition of GST and replace with “Hone Heke Tax” on financial speculation.
Maori Party – will revisit removing GST on healthy food (fruit and veges) and also increasing GST on sugary drinks.
I couldn’t find any detail from other parties. If anyone knows any more feel free to comment.
Barrister, Director and Consultant specialising in tax, family enterprise governance and succession, helping start ups and entrepreneurial enterprises grow safely and international expert on value added tax policy and implementation.