Tax changes 'revolutionary’
PA Wellington Tax and social welfare changes to be announced in this week’s Budget were part of the “revolutionary change” New Zealand was undergoing, said the Undersecretary of Trade and Industry, Mr Neilson. The Budget changes would include substantial income tax cuts across the board in percentage terms; significant help through the tax and social welfare systems for families based around the concept of a
minimum family living income; closing of tax loopholes; and the start of reform of corporate taxation. The package would be the most comprehensive set of changes to the tax and social welfare system since the 19305, Mr Neilson told the Society of Accountants in Wellington. “We are undergoing another revolution in New Zealand which will, like those of the 1880 s and 19305, have impact throughout the next 50 years.”
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Press, 19 August 1985, Page 5
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138Tax changes 'revolutionary’ Press, 19 August 1985, Page 5
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