What are the fairest tax rates for New Zealand overall?

New Zealand has a general election underway this year. Parties have different ideas about what the tax rates should be. We will ignore subsidies in this post. We will only consider the tax rates themselves. Also see:
https://aaamazingphoenix.wordpress.com/2023/10/08/part-2-what-are-the-fairest-tax-rates-for-new-zealand-overall/

Which is fairest for New Zealand overall?

• The current NZ tax rates?
  
• The National Party tax rate proposal?
  
• The Labour Party tax rate proposal (current)?
  
• The ACT Party tax rate proposal?
  17.5% tax under $70,000
  28% tax over $70,000
• The ACT Party tax rate proposal with the first $5,600 tax free (0% tax)?

Note:

Under ACT on the first $14,000, an extra $980 tax would be paid (the current tax rate of 10.5% would increase to 17.5%).

To balance this $980 extra tax out, one option is to make the first $5,600 in earnings tax free (0% tax) for everyone so that the same tax as present is paid on an income of $14,000.

Hence my last option above.

See my email to David Seymour and ACT’s response to it that I received on Thursday 5 October:

ACT’s new Tax rates

Update:

Below is part of my reply:

You may be able to see my latest Neighbourly poll results below
(only local members may be able to vote):
https://www.neighbourly.co.nz/message/view/70269533

Below are some early poll results:

For other Parties see:

https://www.greens.org.nz/green_party_s_new_income_guarantee_for_every_new_zealander
(see Notes)

https://www.nzfirst.nz/2023_policies
(see #7)

You may also like to look at the Australian tax rates.

Anyone want to move to OZ?

Shared Posts (Pingbacks)