Hopes of super tax removal

Press, 2 December 1987, Page 27

Hopes of super tax removal

PA Wellington National superannuitants have welcomed the statement by the Minister of Finance, Mr Douglas, that people receiving the same income should be taxed at the same rate. The publicity officer for the Wellington National Superannuitants’ Association, Mr Jack Thessman, said Mr Douglas encouraged superannuitants to hope that the surtax imposed on them two years ago would soon be removed. "At present a widowed national superannuitant on the single pensioner’s rate pays 48c in the dollar on all income over Mr

“Other taxpayers are not taxed at 48c in the dollar until their income exceeds $30,000.” Superannuitants’ hopes that the surtax would be removed received an additional boost from the Inland Revenue Department’s submission to the Royal Commission on Social Policy, which said the surtax did not fit the requirement that a good tax system should be “certain, simple, equitable and economical."

“Because of the surtax, national superannuitants have been taxed at a higher rate than other citizens,” Mr Thessman said. “We now look forward to restoration of equity.”