"What questions does Peter Dunne's income splitting for tax bill raise for the govt?" "Peter WHO?" 17 August 2010

A newspaper reporter asks Finance Minister Bill English who sits at his desk in his parliamentary office, what questions Peter Dunne's income splitting for tax bill raise for the government and Bill English affects to be uncertain about who Peter Dunne is. In a wastepaper bin is a newspaper with a heading that reads 'English questions merit of Dunne bill.' The bill allows parents with children up to age 18 to combine their income and split it down the middle for tax purposes. That would move each income into lower tax brackets and a tax credit would be paid out at the end of the year. Because of the way the tax system works, the maximum amount that could be gained is just over $9000 a year."The bill will give couples with children the option of having a parent work fewer or more flexible hours, be at home raising their children, and able to increase their combined after-tax income," Mr Dunne said. Mr Dunne acknowledged at a press conference his bill would help high income families the most, and said that was inevitable. (NBR)

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