Super Tax Surcharge Bill For Reintroduction (Press, 24 March 1986)

On 24 March 1986, it was reported that The Opposition in New Zealand was set to make another attempt to overturn the tax surcharge imposed on national superannuation by the Government in 1984. Venn Young, the National Party’s spokesman on social welfare, announced he would be reintroducing a private member’s bill aimed at removing the surcharge. This bill had previously been lost during its first reading in Parliament in September 1985. Young indicated that he would not be making any changes to the bill prior to its reintroduction, which he anticipated would occur immediately after Parliament addressed the homosexual law reform legislation, likely within three weeks. This initiative came in response to comments made by Labour MP Annette King in her opening speech during the Address-in-Reply debate, where she emphasised the necessity for a bipartisan approach to the future of superannuation. King expressed her desire to gauge the Government’s commitment to such an approach regarding superannuation policies. Young contended that the surcharge functioned as a means test for superannuation, disproportionately impacting many elderly individuals who were unable to adjust their financial situations to evade the surcharge. He suggested that the surcharge was causing significant hardship among these vulnerable groups.

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