Black Monday

[nztx]

jobs numbers not to hot to worry about money printing ending just yet

Fed’s Mester lauds jobs report but says it’s not enough to change policy

https://www.cnbc.com/2021/06/04/feds...ge-policy.html

Jobs report shows improvement, but not enough to get Fed talking about tapering

https://www.cnbc.com/2021/06/04/jobs...-tapering.html


mean while in NZ they are not printing enough money as they just cancelled the big road infrastructure build they announced in january 2020 ( another policy fail ) and replacing it with a very expensive walk and bike bridge lol
that help NZ productivity issues

I see that .. Are they scared that someone may wake up to the fact that some poor suckers in the
future are going to have to pay dearly to repay the whole lot of artificially created magic credit
mysteriously concocted overnight between Govt & it's captive - the RB (or Reserve Debt) Bank ?

[nztx]

All other countries have dividend taxes. only foreigners are being ripped off which is fine with me

We're not talking about dividend taxes though ..

[Panda-NZ-]

Whats your point then?

there's no need for anything over what's already in place given our good economic performance.

[nztx]

Whats your point then?

there's no need for anything else given our good relative economic performance.

Reread the article, then what is being talked about should be obvious

Good performance or artifically concocted on the back of mysterious inflationary
intra RB-Govt borrowing of extreme levels ?

What will further lock downs bring ?

The Local economy may seem not so bad against other Covid-19 afflicted,
it depends on what it is compared against & what the tints of the day are ..

[Panda-NZ-]

Company tax could be raised a bit. 29% to get that under the 30% virtue signal figure.

More imputation credits for kiwis so less tax.

[Snoopy]

Company tax could be raised a bit. 29% to get that under the 30% virtue signal figure.

More imputation credits for kiwis so less tax.

I saw the smilie but just to make things clear. Raising the company tax rate would generate more imputation credits sure. And withholding tax on dividends for shareholders would reduce to offset the increase in imputation credits. However, without a change in personal tax rates there would be no difference in the overall tax bill faced by shareholders.

SNOOPY

[Bjauck]

G7 agree to a global minimum company rate of 15% (Biden had originally wanted 21%). They also agree to plans to tax companies in the countries where they conduct business.

It had always seemed bizarre that multinationals could effectively choose a country, which had a low tax regime, in which to book their profits. Costs to governments from Covid spurred on the agreement.

G7 is just the 7 largest "developed" capitalist economies. However it is a start.

https://www.bbc.com/news/world-57368247

[Sideshow Bob]

G7 agree to a global minimum company rate of 15% (Biden had originally wanted 21%). They also agree to plans to tax companies in the countries where they conduct business.

It had always seemed bizarre that multinationals could effectively choose a country, which had a low tax regime, in which to book their profits. Costs to governments from Covid spurred on the agreement.

G7 is just the 7 largest "developed" capitalist economies. However it is a start.

https://www.bbc.com/news/world-57368247

I found it hilarious on TVNZ last night - they used the example of Google, and stated they had approx $800m in revenue in NZ and paid I think $2.3m in tax - only 0.3%!! Taxing revenue now?

Then David Parker was on there saying if big companies paid more - then less tax to pay for individual taxpayers. Yeah right!!!!! Anyone waiting for a tax decrease based on this will be waiting until the temperature in hell goes sub-zero.

[Panda-NZ-]

They are subject to a revenue tax but businesses can claim it all back since its tax deductible (gst).

Consumers still get slugged though.

[dobby41]

https://www.theguardian.com/politics...multinationals

The NZ Corporate Tax rate at 28% suggests that NZ Companies are being ripped off & overtaxed on the international standards
suggested of 15% ?

NZ is one of the few countries which have imputation credits for shareholders.
NZ, Australia and Malta.
A very fair deal for shareholders.

PS - that 15% would be the minimum rate, it isn't the average or standard rate. Australia is 30% (or 27.5% for 'Base Rate Entities')