New Zealand: Government Delivers A Bold Budget

Budget 2010
Last Updated: 24 May 2010
Article by Casey Plunket

Most Read Contributor in New Zealand, April 2018

Budget 2010 will be remembered for its boldness, and for stealing a march on Australia.

The Australians plan to reduce their company tax rate to 28% on 1 July 2014. We'll be there on 1 April next year. Not enough to cause companies to cross the Tasman, perhaps, but a sign that the Government is serious about trying to close the growth gap between the two economies.

The budget represents the biggest overhaul of the tax system since 1987 and has the capacity to – finally – wean New Zealanders off their propensity to over-invest in property.

This Brief Counsel looks at the budget tax package and at the big budget numbers.

Tax changes