The week's tax news in one handy summary.
New Zealand Tax
- Interesting profile of Sir Michael Cullen as the TWG gets ready to release its interim report | 'I hate poverty, but not the rich' –
- This is a case where aggressive tax planning crossed the line into tax evasion | Dragons' Den star, Paul Webb, convicted of tax evasion
- Well, we'll know more at 11 AM when the TWG's interim report is released. This is a good example of how the difficulties of a CGT are argued whilst simultaneously ignoring overseas experiences with the tax.
- Interesting to contrast @coughlthom view of tax with that of Peter Dunne | Let's talk about tax, baby
- Re Peter Dunne's thoughts on CGT, here's my thoughts on the matter | Capital gains tax? Yeah, nah, definitely, maybe
- Here's the TWG''s Interim Report - interesting and welcome to see further consideration on the Risk Free Rate of Return method for taxing capital.
- Not been through the detail yet but the risk-free rate of return methodology was proposed by the Macleod Tax Review in 2001 - and rejected by then Finance Minister Sir Michael Cullen. Irony aside it's an idea worth considering.
- Good first take on the TWG report from David Snell of @EY_NewZealand looking forward to going through the report myself, after I've dealt with @NZInlandRevenue :) | The two big takeaways from the interim Tax Working Group report
- Courtesy of my ex-colleagues at @DeloitteNZTax | Tax Working Group report made easy: Infographic
- As @bernardchickey has elsewhere noted this eye-watering number highlights the core problem of how self-interest has hindered serious reform
- I don't believe so, and I think Patrick McCalman's suggestion that the final report might suggest a combination of methods is pretty reasonable | Would taxing capital drive investors away?
- So far today I've made the same point about inter-generational fairness to three separate news outlets including @NewstalkZB and @95bFMNews
- Here's me talking to Newstalk ZB earlier today | Capital gains tax tipping point is approaching
- Interesting to see this from @NZInlandRevenue | Inland Revenue firmly focussed on bright-line
- I expect the TWG report might have some commentary on this issue | Oxfam report on the tax affairs of multinational drug companies labelled misleading by Inland Revenue
- On the same day as the TWG suggested increasing environmental taxation, an OECD report highlights the low pricing of carbon
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