the Government should spend less of your money.
You earned it, and you are the best person to decide how to spend or invest it.
The Government’s accounts show surpluses rising every year. In the next few years they’ll add up to over $20 billion. Only ACT will give that money back to you, and deliver a tax cut with no cuts to core services like health, education or police.
ACT will cut every income tax rate:
|(from 1 April 2018)|
|more than 70,000||33%||25%|
See your tax cut by entering your before-tax income here:
examples of typical kiwis’ tax cuts under ACT’s policy:
|If you earn…||Under ACT you’ll save…|
Full time on the minimum wage.
Average wage at the end of 2016.
The current top tax rate kicks in.
Average income for a Financial Accountant
ACT will cut company tax to 25%, so that businesses can grow and create new jobs.
We would cut corporate welfare to fund company tax cuts. We would promote growth by cutting tax on all businesses.
ACT will deliver tax cuts in a balanced budget.
Our tax cuts would take effect on 1 April 2018. They are fully costed and funded in a balanced budget. We would use the Government’s surpluses to fund income tax cuts, and make $1.1 billion in cuts to corporate welfare to fund company tax cuts.
|Total cost of tax cuts||1.52||6.07||6.07||6.07|
|Cuts to corporate welfare||–||–||1.125||1.125||1.125||1.125|
|New surplus under ACT||2.91||0.46||1.86||3.56|
In the long term, we will save even more by raising the age of entitlement to Superannuation to 67, sooner than National. ACT is the party of spending restraint.
Read more on our proposals here: Tax Policy Explainer