Some interesting “Wealth Tax” ideas in there and proposed changes that would net an extra ~$5B (estimated).
- Big corporations tax: The corporate tax rate will be increased from 28 percent to 33 percent for big companies with annual turnover exceeding $30 million. This will impact about 0.7 percent of businesses (e.g. banks, supermarkets and energy companies).
And new income tax rates:
Current
| Income band | Tax rate |
|---|---|
| 0 - $15,600 | 10.5% |
| $15,601 - $53,500 | 17.5% |
| $53,501 - $78,100 | 30% |
| $78,101 - $180,000 | 33% |
| $180,001 and over | 39% |
Proposed
| Income band | Proposed rate |
|---|---|
| $0–$9,999 | 0% |
| $10,000–$19,999 | 10% |
| $20,000–$39,999 | 17.5% |
| $40,000–$59,999 | 25.5% |
| $60,000–$79,999 | 30.5% |
| $80,000–$159,999 | 33.5% |
| $160,000+ | 45% |
| – |
Opportunity are running a party vote campaign. So vote opp for party and labour for candidate… Get the best of both world’s.
That’s definitely my plan. I’m in Remutaka electorate, which Hipkins is all but guaranteed to win.