Thanks to taxblog post: http://www.taxblog.co.nz/?cat=23
That annoucement caused the Labour government some seriously negative press… And prompted calls to reduce the company tax rate to 30%. Interesting that Cullen is still thinking about such a move, at the expense of introducing a payroll tax.
So whatever happened to the payroll tax?
Probably someone in treasury is crunching the numbers working out the revenue implications of trading a 3% drop in corporate income tax for the introduction of a payroll tax
I'm almost worried to find out what he might predict for next years budget...