Labour pledges higher tax on income $100k-plus
State-of-the-nation speech sees Goff promise crackdown on tax avoidance, and an increase on the top tax rate.
Labour is promising a tax-free zone for the first $5000 of income, a crackdown on tax avoidance and an increase in the top rate for people who earn more than $100,000.
Party leader Phil Goff outlined the plan in his "State of the Nation" speech in Auckland today, setting the stage for an election campaign under the slogan A Fair Deal for Everyone.
"My goal is to make the first $5000 of your income tax-free," Mr Goff said.
"For a couple, that would be worth $1000 a year take home pay."
A Labour government wouldn't borrow to pay for that, instead it would crack down on tax avoiders and the loopholes they exploited.
A progressive tax regime would be introduced, with the top rate still to be decided.
"It will only affect incomes comfortably into six figures, the top few percent of earners," he said.
Other "action points" include working with the private sector to create a high value, high skill and high wage economy, paying down debt, promoting clean technology and renewable energy, and encouraging innovation, research and development.
NZPA and NBR staff
Tue, 25 Jan 2011
Tue, 25 Jan 2011
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Labour pledges higher tax on income $100k-plus
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