The week's tax news in one handy summary.
New Zealand Tax
- A big surprise for me in the TWG interim report was the decision to walk away from a land tax | A fairer tax
- I take a look at what the TWG has to say about GST and retirement savings | More to Tax Working Group than Capital Gains Tax
- GST reform is off the table but not adjustments to the tax rate structure | After years of neglect, public servants want to see real tax reform, not tinkering
- As I said to Miriam the taxation of capital is an inter-generational one which is likely to get messy | Get ready for CGT warfare
- Reading the background papers to the 2010 Budget seems clear the primary reason for withdrawing depreciation on buildings was to fund the tax 're-balancing' | Tax relief of more than $1 billion a year for building owners possible
- Mark Lister of Craigs looks at some ot the TWG's proposals (but curiously not the proposal to lower PIE rates for lower income earners in KiwiSaver | Tax Working Group eyes a slice of the PIE
- The chart showing the link between house prices & immigration seems more pertinent | Capital gains tax would increase house prices, economic modelling suggests
- Farmers, unsurprisingly, are not enthused by the idea of a CGT | Guy Trafford looks at the implications for farmers on the changes possible from the Tax Working Group
- Brian Fallow looks at the TWG's proposals for addressing a particularly difficult issue | +Inequality a tough target for Cullen tax review
- It also paid $862 million in tax for the year, it is by far the largest single taxpayer in the country | NZ Super Fund up by $4 billion to finish the financial year at $39 billion
- Written after the finale of The Block last year but equally relevant today |
- The Block NZ is the perfect way to learn about NZ’s broken tax system
- This comprehensive report includes the latest on the NZ tax treatment of cryptocurrencies compared with several other jurisdictions.
- Here's me talking with @JMulliganRNZ on this issue | Trans-Tasman tax collection
- One of the TWG's more intriguing proposals is for a single Collection Agency across all of Government. I'd hope such an agency would not allow PAYE to go unpaid for four years
- In part a reflection of the actions by the special unit within IRD & liaising with overseas tax authorities such as the ATO | Student loan borrowers starting to get on top of their debt
- This seems to involve particularly blatant, and to be honest, quite stupid, offending.
- Plenty to read in @NZInlandRevenue October Tax Information Bulletin including a binding ruling on GST & income tax treatment of bad debt write offs, interpretation statement on attribution rule, and options for relief from tax debt.
- I was curious about how much tax debt IRD was pursuing overseas. The results, as they say, will shock you | IRD collects 170 times more from students
- If you want to hear more about this story tune into @JMulliganRNZ about 1.10 PM today when I'll be speaking to Jesse Mulligan
United States Tax
- If you've had to grapple with FATCA, this is unsurprising news. FATCA's compliance burden far outweighed its revenue
- Interesting move, mostly political signalling at a guess | Australia's opposition plans to discourage foreign residency
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