New Zealand
A new Taxpayers’ Union – Curia poll has revealed that 63% of New Zealanders support inflation adjustment of income tax brackets compared to just 14% who are opposed.
There was majority support across every demographic (gender, age, area, economic status, and preferred political party).
The Taxpayers’ Union has launched a new website to Axe the Inflation Tax which includes a tax calculator, explainer and FAQ addressing some of the common misconceptions about tax bracket indexation.
Taxpayers’ Union Head of Campaigns, Callum Purves, said: “New Zealanders are really feeling the heat of bracket creep with inflation forcing them to pay more and more tax, even when their real income is not increasing. The inflation tax hits workers with a second blow on top of rising prices caused by inflation and unnecessarily drives up the cost of living even further.“
“With majority support from every demographic, it is clear that it is now only the politicians standing in the way of this common-sense tax reform. With benefits, student loan living costs and superannuation already adjusted for inflation, along with excise taxes on fuel, alcohol and tobacco, it is high time that those who pay the bills stop getting slapped with annual stealth tax hikes.
“Politicians are more than happy to make these changes when it gets them more money to spend, less so when it means they lose out on additional tax revenue each year. We are calling on all New Zealanders and politicians to join us in our calls for ‘No Taxation Without Indexation’.”