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NZ Accountants Urges Against Political Bartering On Tax

Thursday, October 12, 2017

Politicians negotiating the future shape of New Zealand's coalition government must maintain the country's "fair and efficient" tax policies, local accountants have urged.

New Zealand two largest political parties National and Labour have been trying to secure the backing of minority parties New Zealand First and the Green Party after no party won decisively in the September 23 election. The New Zealand First Party was expected to announce its decision on whether to form a coalition with National or Labour and the Greens on October 12 but has pushed forward the decision

Chartered Accountants Australia and New Zealand (CA ANZ) called on coalition negotiators to avoid ad hoc changes to the tax system as part of their talks.

"Political objectives should not override the principles of good tax policy such as fairness, efficiency, sustainability, and coherence," said CA ANZ's New Zealand Tax Leader John Cuthbertson. "Doing so is likely to lead to a less effective tax system and cause for regret."