Things I like about NZ tax system

01. NZ tax system is based on voluntary disclosure of the income. NZ tax system is mainly based on voluntary disclosure. It encourages the tax payers to disclose their income voluntary. It reduces or writes off the non-compliance penalties for those who voluntary disclose

02. NZ tax system is neutral for everyone. It is design to be neutral to all types of people. It is one of the core principal of a good tax system. It does not differ from individual to individual or a group to another group.

03. NZ tax system is simple. It is easy to understand.

04. NZ tax system is fair to everyone.

05. NZ tax system is convenient. It does impose the tax on income earners who can afford to pay. It does not put pressure on people to meet their obligations which is impossible

06. It has many social policies such as working family’s tax credit, child support. It has designed in a way that it re-distributes the income from rich people to poor.

07. There is no interest on student loan. It encourage young generation to afford for their territory education and reduces the stress of heavy interest on student loans for the young families

08. Foreign investor’s tax credit is a regime is fantastic scheme that encourages the foreign investors to invest in New Zealand economy.

09. New Zealand has double tax agreement with many other major countries that do business with New Zealand which benefits the New Zealand exporters and imports.