New Zealand First will campaign on slashing the tax rate for small businesses to 20 percent.<\/p>\n
The party says the drop from 28 percent is a “much-needed bold step” to encourage more investment, expansion, productivity and employment.<\/p>\n
The rate would apply to businesses with turnover under $30 million, and cost the government $1 billion.<\/p>\n
The party said that would be “more than covered” in the medium term by more companies collectively paying a lower tax rate, higher employment, a growing economy, and more spending.<\/p>\n
“Corporate taxes can reduce productivity, particularly in entrepreneurial and innovative sectors,” it said in a statement.<\/p>\n
“Lower company tax rates can improve long-run productivity growth, and stimulate the creation of new companies.”<\/p>\n
It said the policy was a move away from “short-term sugar hits to consumers” and towards long term investment in businesses.<\/p>\n
Australia made a similar move in recent years which provided a credible international model, it said.<\/p>\n
“New Zealand needs to catch up to key competitors to ensure that we are seen as a country of growth for our businesses that innovate and create productivity and employment,” it said.<\/p>\n","protected":false},"excerpt":{"rendered":"New Zealand First will campaign on slashing the tax rate for small businesses to 20 percent. The party…\n","protected":false},"author":2,"featured_media":609848,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[111,43,139,69],"class_list":["post-609847","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-zealand","tag-new-zealand","tag-news","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/609847","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=609847"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/609847\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/609848"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=609847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=609847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=609847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}