AUCKLAND, New Zealand, June 16 (Xinhua) -- New Zealand Act Party launched a new campaign on Sunday including a flat tax rate policy aiming to attract more voters in next year's general election.
On the party's annual conference in Auckland, it proposed a flat tax rate of 17.5 percent on personal and company income, which the party believes will benefit the New Zealand tax payers for being simply and fair.
Currently, New Zealand has a progressive tax system where the top personal tax rate is 33 percent for income over 70,000 New Zealand dollars (45,442 U.S. dollars). New Zealand companies pay a flat 28 percent tax rate for their income.
Act Party leader David Seymour believed that New Zealanders deserve a fairer tax system which encourages personal responsibility and hard working.
"We will fund our plan by ending handouts for businesses through the Provincial Growth Fund and for well-off families through the Fees-Free scheme. We will also gradually raise the retirement age to 67, cap Working for Families to only two eligible children and abate the scheme faster for higher income earners, end KiwiSaver contributions, and return the government's surplus to taxpayers," Seymour said.
Act Party has one seat in the New Zealand Parliament and is a political ally of National Party.