Public Consultation on Working for Families Tax Credits
Last updated: June 6, 2022Economy
Public Consultation on Working for Families Tax Credits
Published: June 6, 2022
Submitting To: Ministry of Social Development
Issue for Business: BusinessNZ has long held the view that Working for Families (WFF) represents a highly inefficient mechanism in which working New Zealanders receive additional financial support. Instead, an obvious means of addressing this issue is to leave the value of government assistance in people’s pockets in the first place. This means adjusting tax rates and thresholds rather than introducing new ways of distributing the tax take. Except for those genuinely unable to work, this would act as a primary incentive to work. It would also mean that increases in net income would need to be achieved through effort and productivity. At the very least, BusinessNZ believes the Government needs to take a step back and undertake a long overdue comprehensive root and branch review of WFF. We believe this would create a formal platform to discuss the significant inefficiencies that have plagued the policy since it began.
Action: In progress.
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