Finance & Revenue

New Zealand First believes that protecting our financial interests must operate in tandem with the calculated use of our nation’s revenue. That is why we continue to promote policies that ensure New Zealand has a level playing field against international competitors, while investing in the areas needed to facilitate our own financial growth. Finance and revenue policies must be stable and not focused on short term gain.

Policy:

 

  • Continue to improve the penalty framework for tax evasion
  • Initiate a review into the double-taxation of ‘tax like’ instruments such as removing GST on rates
  • Explore the feasibility of introducing a lower business tax rate for exporters and import substitution manufacturers
  • Introduce a 100% depreciation rate for business equipment worth up to $20,000 for each item and further for approved capital outlay (exclusive of GST)
  • Amend Capital Limitation Rules in the Income Tax Act to treat seismic strengthening as “repairs and maintenance” 
  • Support local procurement policies that encourage government departments, state-owned companies, and local government bodies to give weighting to domestic service providers or products
  • Upgrade KiwiBank’s capabilities so that it may better compete with commercial and wholesale lending competitors
  • Aim to increase KiwiBank’s market share by targeting specific lending portfolios such as Agri-lending
  • Encourage the consolidation of sub-prime lenders including co-ops and community banking to better compete against offshore banks
  • Continue to promote a simple taxation system by opposing complicated tax initiatives such as a comprehensive capital gains tax