Background
GST was introduced by the Fourth Labour Government of New Zealand on 1 October 1986 at a rate of 10% on most goods and services. It replaced existing sales taxes for some goods and services. GST was a part of the economic reforms initiated by Labour Finance Minister Roger Douglas that were dubbed Rogernomics. GST was introduced in conjunction with compensating changes to personal income tax rates.
Since its introduction it has had two increases, on 1 July 1989 the rate increased to 12.5% and on 1 October 2010 it increased again to 15%.
Read more about this topic: Goods And Services Tax (New Zealand)
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