News

Cullen renews TET idea

Wednesday 5th of March 2003

Finance Minister Michael Cullen’s "TET offensive" looks like being back on the political agenda.

The current method of taxing savings – TTE – taxes the initial income, then the earnings from any savings, but leaves exempt those savings when they are drawn upon.

Dr Cullen has favoured moving to a ‘TET’ model, exempting the...

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