Policy

Govt proposes new 'tax principles' law

Jem Traylen
Tue, 26 Apr 2022

Govt proposes new 'tax principles' law
Revenue minister David Parker says it's an anomaly that tax collection has no equivalent to the Public Finance Act (Image: Kevin Stent/Getty)
Jem Traylen
Tue, 26 Apr 2022
A new law intended to make government reporting on tax outcomes more transparent was announced by revenue minister David Parker on Tuesday.The minister said the “Tax Principles Act”, which he hoped to pass before the next election, would require officials to periodically report on the operation of the tax system based on principles that he believes are broadly agreed upon across the political spectrum.In a speech given at the Victoria University of Wellington, Parker said voters needed to be better equipped to assess proposals from...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets market close
Positive earnings lift NZ sharemarket
Dan Brunskill | Fri, 20 May 2022

The NZ market was one of the few climbing markets as investors in other parts of the world worried about the risk of a global recession.

Law & Regulation
Unlawful collection of Companies Office fees fixed under urgency
Ian Llewellyn | Fri, 20 May 2022

The Companies Office's administration of fees may have saved costs, but the problem is it was against the law.

Markets FREE
Brian Gaynor: legacy of a towering financial figure
Brenda Ward | Fri, 20 May 2022

At his funeral in Auckland, family, friends and colleagues of Brian Gaynor recalled a passionate man who had the confidence and courage to back his sometimes controversial opinions.

Partner content
What’s driving the ram raids, and what shop owners can do

Scott La Franchie explains the motivations behind the spate of burglaries.

Partner content
Grow your business by taking time to plan

Getting business fundamentals right gives the best chance at beating the unplannable.