Many do just that ,thats a cert.
A set of cake knifes coming your way;)
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Many do just that ,thats a cert.
A set of cake knifes coming your way;)
Are you implying the top 20% are tax dodgers? Have a reality check. We live in a globalised economy where currency flows freely. Should NZ be at the forefront of discouraging foreign investment? I'm not hopeful there's enough domestic $ to shake a stick. Anotherwords, can NZ survive without investment from abroad (albeit $ that is dirty or clean) ?
As 777 implied - not all rich people are out to rip off the system. I would say it would be a very very small %. If the farming operations of NZ were operating at a loss, i'm sure the results would be reflected well on Fonterra's books - it's just not the case.
Not all rich people are out to rip off the system but enough are and they employ experts to do just that with loopholes etc etc. Fact.
People are not better or worse depending on their bank balance. There is a certain percentage of people trying to rip of the system, and this percentage does not change whether they are rich (tax avoidance) or poor (tax and benefit fraud). Plenty of poor people like to work without paying taxes "you don't need a tax receipt - do you?" - not different to a rich (wo)man trying to hide their income overseas. Not sure about the non-performers, though - they might be worse in terms of ripping off the system.
This constant rich people bashing is revolting and dumb. How do you think our (not so) Santa (but) Taxinda is paying all the lollies she distributed if the people paying the tax are going away?
Share a little before you go it will come back in spades. Cake knives your way.Learn and use.Never too late to become a giver 777;)
More revolting and dumb is your consistently snide comments re the PM as if she is personally responsible for all Labour policy. Criticise the policies not the messenger.
The discussion is about whether higher income earners should pay more tax and whether CGT should be paid on unearned income. Not about rubbishing rich people.
In my view NZ at the higher income levels has low taxation compared with other developed countries. As FP says loopholes in taxation are legitimate but wage and salary earners have little access to them. Whether wealthy immigrants are of value to NZ is questionable, A family with a couple of kids is possibly of more value.
Also I think most of the arguments about CGT have little foundation in fact and are more personal objections to CGT especially seeing nothing has been set in concrete.
westerly
May be worth remembering also westerly that about 75% of "taxpayers" in NZ get equal or more from the Government in various subsidies than they pay in tax. So the Government's income is nearly entirely borne by the top 20% of earners and businesses (they also pay most of the GST). It is ridiculous to claim as has been done on this thread that most of them don't pay tax. So I totally disagree with you and suggest they in fact do have something to complain about if their tax burden is to be increased even further.