About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Wednesday, July 30th, 9:21AM
rss
Latest Headlines

Tax incentives promoted

The Health Funds Association is promoting tax incentives for private health insurance.

Friday, March 30th 2001, 8:07AM

by Philip Macalister

The Health Funds Association says the introduction of tax incentives for private health insurance would help bolster the public health service in New Zealand.

A report, written by the New Zealand Institute of Economic Research for the association, concludes that tax incentives would pass the national welfare cost-benefit test. It argues that under such a scheme more would be invested in the health sector, than the money forgone in tax revenue.

It also says the incentives could target lower income households.

NZIER's Alex Sundakov says two things came out of the research once it started. The first is that tax incentives where a better option for promoting the uptake of private health insurance, as opposed to changing the fringe benefit tax treatment of premiums.

This is because not everybody is in the work force.

Secondly the issue was as much about health policy, as it is about tax policy.

The idea of incentives has received muted response from politicians.

Tax incentives for health insurance aren't on the government's work schedule, nor is it doing any work on the subject, a spokesperson for Finance Minister Michael Cullen says.

National's former health and revenue minister Wyatt Creech says National is doing a complete review of its policies.

He says the report provides a "serious intellectual base" for the party to use in its policy making.

If tax incentives for health insurance provide a "net public benefit, then it's worth looking at," he says.

Labour's coalition partner, The Alliance, has a totally different position.

List MP Philidda Bunkle says the party is totally opposed tax incentive for private health insurance.

She argues under such a regime the public health system gets run down and the cost for health is carried more heavily by the lower socio-economic groups than higher ones.

HFA executive director Andrea Pettett is realistic about the political reaction: "Achieving tax reform isn't going to happen overnight, and it won't," she says.

This is the association's first piece of major work and it will continue pursuing the subject, she says.

You can read Philip's blog here: http://www.goodreturns.co.nz/blog/

« Govt pressured to fully fund Retirement CommissionerSovereign takes regulation bull by the horns »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Weekly Wrap

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AMP Home Loans ▲7.24 5.99 6.29 6.60
AMP Home Loans $200k+ ▲7.14 5.89 6.19 6.50
AMP Home Loans LVR <80% - - 5.85 6.29
ANZ ▲6.74 6.05 6.49 6.65
ANZ LVR > 90 ▲6.74 6.55 6.99 7.15
ANZ Special - - 6.09 -
ASB Bank ▲6.75 6.09 6.40 6.65
ASB Bank Special - 5.95 - -
BankDirect ▲6.75 6.09 6.99 6.65
BankDirect Special - 5.95 - -
BNZ - Classic - - - 6.25
Lender Flt 1yr 2yr 3yr
BNZ - GlobalPlus ▲6.74 5.99 6.39 6.59
BNZ - Mortgage One ▲7.15 - - -
BNZ - Rapid Repay ▲6.74 - - -
BNZ - Std, FlyBuys ▲6.74 5.99 6.39 6.59
BNZ - TotalMoney ▲6.74 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide ▲6.45 5.90 6.50 -
Credit Union North 6.45 - - -
Credit Union South 5.75 - - -
eMortgage 6.04 6.15 6.69 7.19
Finance Direct 6.10 6.45 6.69 7.10
Lender Flt 1yr 2yr 3yr
First Credit Union 6.45 - - -
General Finance 5.95 6.25 6.50 7.10
HBS Bank 6.15 5.85 6.20 6.25
HBS Special - - - 5.95
Heartland 6.45 6.75 7.00 7.60
Heretaunga Building Society 6.25 5.85 6.50 -
Housing NZ Corp 6.50 6.00 6.30 6.60
HSBC Premier 6.59 5.95 5.99 6.25
HSBC Premier LVR > 80% - - - -
HSBC Special - 5.85 5.85 5.85
Kiwibank 6.40 5.99 6.29 6.29
Lender Flt 1yr 2yr 3yr
Kiwibank - Capped 5.65 6.50 - -
Kiwibank - Offset 6.30 - - -
Kiwibank LVR > 80% - - 5.85 6.29
Liberty 5.64 - - -
Napier Building Society 5.80 6.00 6.70 -
Nelson Building Society ▲6.95 ▲6.15 6.60 -
NZ Home Loans 6.35 6.09 6.40 6.65
Perpetual Trust 7.70 - - -
RESIMAC - lo doc 7.34 7.06 7.38 7.82
RESIMAC LVR < 80% 6.34 6.06 6.38 6.82
RESIMAC LVR < 85% 7.34 7.06 7.38 7.82
Lender Flt 1yr 2yr 3yr
RESIMAC LVR < 90% 8.34 8.06 8.38 8.82
SBS Bank 6.15 5.85 6.20 6.25
SBS Bank Special - - - 5.95
Silver Fern 5.95 6.10 6.55 7.05
Sovereign ▲6.85 6.09 6.40 6.65
Sovereign Special - 5.95 - -
The Co-operative Bank 6.45 6.00 6.00 6.25
TSB Bank ▲6.74 6.00 6.19 6.60
TSB Special - - 5.80 -
Wairarapa Building Society 6.20 5.75 5.95 -
Westpac ▲6.59 6.09 6.39 6.65
Lender Flt 1yr 2yr 3yr
Westpac - Capped rates - 6.49 6.99 -
Westpac - Offset ▲6.59 - - -
Westpac Special - 5.95 6.09 -
Median 6.54 6.00 6.39 6.60

Last updated: 30 July 2014 9:14am

News Quiz

Of the following people who is not involved in Craigs Investment Partners new stand alone funds management company?

Simon Botherway

Stefan Stevanovic

James Ring

Andrew South

Roy Cross

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by PHP Developer and eyelovedesign.com