“Any Government ACT is part of will have no time for envy-fuelled wealth or capital taxes,” says ACT Leader David Seymour....
“Any Government ACT is part of will have no time for envy-fuelled wealth or capital taxes,” says ACT Leader David Seymour.
“As Labour plant the seed for increased taxation and National is unclear about what they will or won’t rule out, ACT can be unequivocal in its position that we will repeal any taxes proposed by Labour.
“We’ve got no time for tall poppy syndrome witch hunts designed to strip Kiwis of more money. In fact, if anything the current tax system is unfair. The top 9 per cent of income earners pay 42 per cent of all income tax.
“While Labour is focused on taxing, redistributing and dividing, ACT knows that a strong economy needs to be built around creating conditions for prosperity, giving people the opportunity to get ahead.
“We currently have a simple tax system where you pay (too much) tax once on your income, we don’t need to complicate it by coming after people based on the value of assets that they have likely worked very hard to acquire using already taxed income.
“We would cut the 30 percent marginal tax rate to 17.5 percent. We will reverse the 39 percent tax rate and we will reverse the Government’s interest deductibility change. Tax cuts not only give earners more to spend and invest, they also make work and investment pay.
“ACT stands for real change. We will steer New Zealand away from its current path of Government-led, high tax, high debt nonsense that makes life harder for hardworking New Zealanders.”