New Zealand has seen a change in policy direction from the provision of taxation
incentives for retirement income savings from 1910 through to 1988, to removal of
all incentives from 1988 through to 2004. In 1910, the focus was primarily on
decreasing state dependency, while simultaneously assisting individuals to be
self-reliant. By 1988 the focus had moved to increasing efficiency and removing
inequities that were present in the incumbent scheme. In 2004 and 2005, the New
Zealand Government demonstrated that they are no longer opposed to providing
“incentives” to encourage retirement income savings, with the
implementation of schemes targeted at the individual level and the work-based level.
The indication is that taxation incentives to encourage retirement savings are more
likely to be witnessed in a welfarist political environment. Conversely if the
political environment has a stronger neo-liberal focus, the support for taxation
incentives is likely to reduce.
NZPD
(1910a), “The Second Reading of the
Bill”,
New Zealand Parliamentary Debates
, Vol.153, 2 November 1910.
4.
NZPD
(1910b), “The Third Reading of the
Bill”,
New Zealand Parliamentary Debates
, Vol.153, 10 November 1910.
5.
NZPD
(1988), “First Reading of the
Bill”,
New Zealand Parliamentary Debates
, Vol.494, 24 November 1988.
6.
NZPD
(1989), “Second Reading of the
Bill”,
New Zealand Parliamentary Debates
, Vol.496, 14 March 1989.
7.
Social Security Act 1938.
8.
The Dominion, 12 November 1910.
9.
The Dominion, 16 November 1910.
10.
The National Provident Bill in Council, 10 November 1910.
11.
Bernheim, B. D.
(2002), “Taxation and
Saving”, in
Auerbach, A. J.
and
Feldstein, M.
(eds.), Handbook of Public Economics Volume III,
Amsterdam: Elsevier
.
12.
Burman, L. E.
,
Gale, W. G.
and
Orszag, P. R.
(2004), “Distributional Effects of Defined
Contribution Plans and Individual Retirement Accounts”,
Discussion Paper No.16,
Urban-Brookings Tax Policy Centre
.
13.
Engen, E. M.
,
Gale, W. G.
and
Scholz, J. K.
(1996), “The Effects of Tax-Based Saving Incentives
on Saving and Wealth”, Working Paper No.5759,
Cambridge: National Bureau of Economic Research
.
14.
Goss, P.
and
Duncan, A.
(1999), “Taxation and Saving in New Zealand: A
Review of Tax-related Aspects of Savings and Retirement Income
Policy”, Report prepared for the Super 2000 Taskforce, November.
15.
Holmes, F.
(1975), “Old Age, Superannuation and the Financial
System”, Discussion Paper No.4,
Department of Economics, Victoria University of Wellington
.
16.
Holmes, K.
(2001), The Concept of Income: A Multi-disciplinary
Analysis,
Amsterdam
: International Bureau of Fiscal Documentation Doctoral Series.
17.
Hooper, K.
(1989), “Taxation as a Social Phenomenon: An
Historical Analysis”, Discussion Paper No.93,
Department of Accountancy, Massey University
.
18.
Hooper, K.
(1998), “Tracing the Origins of
Tax”, in
Hooper, K.
,
Somerfield, J.
,
Greenheld J.
, and
Ritchie, K.
(eds.), Tax Policy and Principles: A New Zealand Perspective,
Wellington: Brookers
, pp.1-25.
19.
Hooper, K. C.
and
Kearins, K. N.
(2003),
“Substance but not Form: Capital Taxation and Public Finance in
New Zealand, 1840-1859”
, Accounting History, NS Vol.8, No.2, pp.
101-118
.
20.
Hooper, K. C.
and
Kearins, K. N.
(2004),
“Financing New Zealand 1860-1880: Maori Land and the Wealth Tax Affect”
, Accounting History, Vol.9, No.2, pp.
87-105
.
21.
Jappelli, T.
and
Pistaferri, L.
(2002), “Tax Incentives for Household Saving and
Borrowing”, Working Paper No.83,
Centre for Studies in Economics and Finance
.
22.
King, M.
(2003), The Penguin History of New Zealand,
Auckland: Penguin Books
.
23.
Lieberman, E. S.
(2001),
“Causal Inference in Historical Institutional Analysis: A
Specification of Periodization Strategies”
, Comparative Political Studies, Vol.34,
No.9, pp.
1011-1035
.
24.
McClure, M.
(1998), A Civilised Community: A History of Social Security
in New Zealand 1898-1998,
Auckland: Auckland University Press
.
25.
MacGregor, S.
(1999),
“Welfare, Neo-liberalism and New Paternalism: Three Ways for
Social Policy in Late Capitalist Societies”
, Capital and Class, Vol.67, Spring, pp.
91-118
.
26.
Ministry of Social Development
(2003), “A Description of New Zealand’s
Current Retirement Income Framework”, Periodic Reporting Group
2003 Background Paper.
27.
Munnell, A.
(1982), The Economics of Private Pensions,
Washington, DC: Brookings Institute
.
28.
Napier, C. J.
(1989),
“Research Directions in Accounting History”
, British Accounting Review, Vol.21,
No.3, pp.
237-254
.
29.
New Zealand Government
(1988), “Consultative Document on Superannuation
and Life Insurance, Volume I”, March.
30.
New Zealand Government
(1992), “Private Provision for Retirement: Overview
of the Options”, Report of the Task Force on Private Provision
for Retirement, August.
31.
New Zealand Treasury
(1987), “New Zealand Government Economic
Statement”, 17 December.
32.
New Zealand Treasury
(2001), “Savings Incentive Options, Consultation
and Analysis”, Treasury Report T2001/1967.
33.
Organisation for Economic Co-operation and Development
(1994), Taxation and Household Saving,
Paris: OECD
.
34.
Parker, L. D.
(1997),
“Informing Historical Research in Accounting and Management:
Traditions, Philosophies and Opportunities”
, The Accounting Historians Journal, Vol.24,
No.2, pp.
111-148
.
35.
Phillips, D.
(2002),
“Comparative Historical Studies in Education: Problems of
Periodisation Reconsidered”
, British Journal of Educational Studies, Vol.50,
No.3, pp.
363-377
.
36.
Preston, D.
(1999), “Retirement Income in New Zealand: The
Historical Context”,
Wellington: Office of the Retirement Commissioner
. [Updated in 2001 and 2004]
37.
Previts, G. J.
,
Parker, L. D.
and
Coffman, E. N.
(1990),
“Accounting History: Definition and Relevance”
, Abacus, Vol.26, No.1, pp.
1-16
.
38.
PricewaterhouseCoopers
(2005), “Bridging the Savings Gap: An Evaluation of
Voluntary and Compulsory Approaches to Pension Reform”, Research
Report by PricewaterhouseCoopers for the ABI, June.
39.
Rice, G. W.
(ed.), (1992), The Oxford History of New Zealand,
2nd edn,
Melbourne: Oxford University Press
.
40.
Rudd, C.
(1993), “The New Zealand Welfare State: Origins,
Development, and Crisis”, in
Roper, B.
and
Rudd, C.
(eds). State and Economy in New Zealand,
Auckland: Oxford University Press
, pp.226-245.
41.
Rudd, C.
(1997), “The Welfare State”,
in
Rudd, C.
and
Roper, B.
(eds.), The Political Economy of New Zealand,
Auckland: Oxford University Press
, pp.237-255.
42.
Schulz, J. H.
(1992), The Economics of Ageing, 5th edn,
New York: Auburn House
.
43.
Sinfield, A.
(2002), “The Cost and Unfairness of Pension Tax
Incentives”,
PEN61 House of Commons Work and Pensions Committee, The Future of UK Pensions
, First Report of the Session 2002-2003, Vol.3, HC92-III, pp.300-305.
44.
Stephenson, J.
and
Scobie, G.
, (2002), “The Economics of Population
Ageing”, New Zealand Treasury Working Paper No.02/05.
45.
Swanstrom, T. E.
(1989),
“The Saving Solution”
, Business Economics, Vol.24, No.3, pp.
10-16
.
46.
Thomson, D.
(1998), A World Without Welfare: New Zealand’s
Colonial Experiment,
Auckland: Auckland University Press
.
47.
Thorns, D. C.
and
Sedgwick, C. P.
(1997), Understanding Aotearoa/New Zealand: Historical
Statistics,
Palmerston North: The Dunmore Press
.
48.
Wilkes, C.
(1993), “The State as an Historical Subject: A
Periodization of State Formation in New Zealand”, in
Roper, B.
and
Rudd, C.
(eds.), State and Economy in New Zealand,
Auckland: Oxford University Press
, pp.192-209.
