The Government's operating deficit, which soared as the
recession deepened, is forecast to reach surplus by the
2015-16 financial year, three years ahead of last year's
The Government yesterday moved to curb New Zealanders'
obsession with property, Mitchell Mackersy partner Sally
Peart said last night.
Tax reform was widely anticipated to be the main attraction
of the Budget delivered yesterday by Finance Minister Bill
English and he did not disappoint.
Sweeping tax reforms introduced yesterday by Minister of
Finance, Bill English, were the cornerstone of his second
Budget of the current Government.
The increase in GST
to 15% from October 1 had the potential to create huge and
complex problems for all taxpayers, WHK tax consultant Jarod
Chisholm warned last night.
The surprise announcement that New Zealand's company tax rate
would fall from 30% to 28% from April 1 next year was
generally welcomed by the business community.
The Government has pledged to improve the management of the
assets it owns.
Germany's move to ban naked short-selling of some securities
rattled investors yesterday, with the euro falling to its
lowest level in more than four years against the United
The Government's opponents acted swiftly yesterday to decry
reported comments made by Prime Minister John Key that Kiwis
should not be jealous if the rich get more from tomorrow's
Budget tax package.
The shine has come off rental property ahead of tomorrow's
budget, according to the latest ASB Investor confidence
cars for sale
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