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Labour's GST policy will be of "marginal benefit" - Tax expert

Author
Newstalk ZB,
Publish Date
Mon, 14 Aug 2023, 7:52am
Photo / 123rf
Photo / 123rf

Labour's GST policy will be of "marginal benefit" - Tax expert

Author
Newstalk ZB,
Publish Date
Mon, 14 Aug 2023, 7:52am

Labour's latest election promise is being labelled as an example of politics winning out over policy.

The party's promising to axe GST from fresh and frozen fruit and veggies from April, saving the average household roughly $20 a month.

Dentons Kensington Swan tax expert, Bruce Bernacchi, told Mike Hosking that it will be of marginal benefit.

He says most of the benefit will go towards higher income families who spend more on fresh produce.

Labour's also promising to boost In-Work Tax Credits by $25 a week, and lift the Working for Families abatement threshold.

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