"Meanwhile, NZ does what’s in its power to reduce harmful emissions..." Not to a degree that is even remotely significant in the context of climate change. " and continue to apply pressure on others when & where appropriate to do the same" Are you serious?...
"I can’t see anywhere where commenters here on TS and/or Grant Robertson said or implied that $350m extra tax intake is ‘insignificant’ and ‘symbolic’. " Re Grant Robertson: You didn't look very hard. From my comment you were moderating: ""The additional $...
Has Arena Williams been held accountable for her porky about her dad? Labour MP Arena Williams fact-checked by Twitter community note over post about scrapping of prescription fee | Newshub [TheStandard: A moderator moved this comment to Open Mike as being...
""Somewhere in between" – cute." Somewhere in between rich and poor does not include people in poverty, does it? "Is there a practical diff between concerns about over-taxation, and concern about politically motivated attacks on financial success?" Of ...
"Don’t about “pricks”, but more likely rich than poor, surely?" Somewhere in between. "The top five percent of trusts with some taxable income in the 2021 tax year accounted for 78 percent of all trustee income ($13.3 billion out of $17.1 billion). " ...
"Maybe this excerpt from the Sapere report will help." Not really. The accountants will be rubbing their hands together at the prospect of a new and complex taxation regime. The concerns about changes causing a reduction in investment are valid. When low ...
"So far you've taken issue with:" Oh I've done more than that. At https://thestandard.org.nz/open-mike-20-05-2023/#comment-1950815 I set out very clearly the basis for my criticism of IRD report. The invitation is open for you to address those points, not ...
Hipkins can help himself by stopping gaslighting the public. Sacked minister Stuart Nash texts to Police Commissioner contradicted PM’s comments on cyclone crime - NZ Herald
"isn't it up to the IRD to say what the IRD report is fundamentally about?" Of course. My emphasis added. "This report describes the outcomes of the High-Wealth Individuals Research Project (the Project). It contributes to this literature by investigating ...
"Appeaing to authority is a weak & lazy shot." You probably should apologise to DMK. His long, but nevertheless informative posts are full of them.
Sorry - getting David Parker and Michael Reddell conflated! But your pithy comment about economists and lawyers is of course quite true! "f you think this wealth distribution is sustainable ...' Wealth and income are not the same thing and not always ...
DMK rightly pointed out a possible conflict of interest that may cloud the judgement or bias the opinion of ‘the man’. Anyone can insinuate a conflict of interest. It's a cheap shot.
"What makes the Sapere one the best, and the IRD one "silly", "faulty and shoddy", in your opinion?" My response (with help from David Reddell Parker, taxation, and that IRD report | croaking cassandra). 1. The IRD report is effectively a survey of 311 ...
Is that the Parker one that doesn't take into account transfers but included unearned income?
"And Don Brash was a former Governor of the RBNZ. Your point?" That playing the man (or in this case the organisation) is rather cheap.
.... That should have rung alarm bells right there. Most trusts are...
BTW, this is about the research methodology and findings: "Leading tax consultancy OliverShaw commissioned Australasian consulting firm, Sapere Research Group, to prepare a report on the effective rates of tax that New Zealand’s tax and benefit systems ...
The firms principal is a former deputy IRD commissioner. But play the man if that makes you feel better.
"Oh – is this where you pretend that someone so ungenerous as not to share with an intimate partner embraces the IRD like a soulmate and gives them everything they're due? Not necessarily just partners or spouses. Sometimes people establish trusts to ...
"Nope. The clue is in the title of the article about that “silly“, “faulty and shoddy” report, specifically – "spike in trust use to avoid tax."" Your link is to an article that includes this pearler: Auckland University law professor Mark Henaghan said ...
It's the study that found that not including tax transfers in a report of comparative taxation is really, really silly.
"Good commenters here are wasting their time engaging with you, which I have noticed and noted before." Really? Like Shanreagh? Red Logix? Both of whom have taken the same position as I have during this thread.
"It’s neither irrelevant nor a diversion (nice try!) but at the core of the Government decision:" The estimated benefit from the change is $350m. I demonstrated clearly that is immaterial (and therefore symbolic) when I compared this amount to three ...
Correction: $350m.
"And there is this…" That article is full of nonsense. Take this statement: "Because trust income can be spread across a number of beneficiaries, who are often lower earners, the income is often taxed at a lower bracket, he says." The author fails to ...
"My comment was a specific reply and specifically mentioned the nearly $6b income a year by high-earning New Zealanders." My comment referred to the lifting of the trust tax rate as symbolic. I then went on to demonstrate precisely how insignificant the $...
Parker's study was faulty and shoddy, right down to not including tax transfers. It was a politically motivated sideshow. A far better study is the Oliver Shaw research (Rich are paying fair share of tax, research finds | Newshub).
"If you believe that "the use of trusts" and "tax avoidance" are whole different conversations, then I have an old car to sell you" They are completely different. Evidence of tax avoidance is not evidence that trusts are used for tax evasion.
"Having a trust is not always evidence of an attempt to rort or tax evasion." "I appreciate railing at the so-called tax and Trust bogey does fit in with the depression inducing cry 'its not fair' but ultimately it gets us nowhere." To Shanreagh... Good ...
The way this government wastes money, it's a drop in the bucket.
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