Terms of Reference for Tax Working Group announced

In accordance with its 100 day plan, the Government has today released details of the Terms of Reference for its Tax Working Group to be chaired by Sir Michael Cullen.

The Working Group has a broad mandate to look at New Zealand's tax system. However, in addition particular issues have been identified for review. The Working Group will be required to report in general to the Government on:

• Whether the tax system operates fairly in relation to taxpayers, income, assets and wealth
• Whether the tax system promotes the right balance between supporting the productive economy and the speculative economy
• Whether there are changes to the tax system which would make it more fair, balanced and efficient, and