The week's tax news in one handy summary.
New Zealand Tax
- Worth noting that section CB 14 currently captures some gains from changes in zoning. Alternative would be broad-based land tax | Bridges changes tune on Labour's 'envy tax'
- Includes some thoughts from me on what could be in the paper to be released later today | What to expect from the Tax Working Group
- No doubt the Tax Working Group will have its view but here's economist Cameron Bagrie on "The sweet logic of a sugar tax"
- Tax Working Group releases its Submissions Background Paper. Submissions close on 30th April
- Inevitable headline but as the TWG notes there is a huge difference between tax rates applying to owner-occupied & rental property and on bank accounts & foreign shares | Capital gains tax set to be 'contentious' issue as Govt asks for submissions
- A little harsh perhaps but it underlines the sheer range of issues to be addressed | EY's David Snell says the Tax Working Group asks some great questions, but misses others
- I was expecting this but like David I'm not sure it's the best answer to the issue of low income | Tax Working Group explicitly seeks views on whether there could be items exempt from GST in order to benefit low income people
- Nevertheless it's one of the options the Tax Working Group is seeking submissions about | Dr Eric Crampton: There's no good reason for a sugar tax in New Zealand
- More analysis of the TWG's background paper including some commentary from myself | Cullen warns of big deficits without reform
- All taxes have unintended consequences so a review seems appropriate | Review to weigh up tobacco tax
Inland Revenue news
- Dare I say it, but this is a by-product of not having a capital gains tax | Inland Revenue Alert RA 18/01 warns that some share sales may constitute dividend avoidance or dividend stripping
- Sarah Hogan of the NZIER raises a good question about outcomes & impact on the low-income | The sugar fix: Is it right to target sugary drinks?
- Report finds various tax design features create greater participation disincentives for second earners than for primary earners or single individuals. This is problematic for women who are more often the second earners. Working for families review will need to consider this
- Yikes! Nobody tell the Tax Working Group! | A new report says we should tax meat-eaters like smokers
United Kingdom Tax
- Following his acquittal for tax evasion Dodd quipped “Income tax was invented 200 years ago, at two pence in the pound. My trouble was I thought it still was" RIP Sir Ken | Sir Ken Dodd obituary
I follow interesting tax news stories from around the world and share them on Twitter.
These are a selection of our best tweets from the previous week.