I would argue that too much is made of the 39% top rate. Most people earning that kind of money form trusts or companies so their investment income is taxed at a lower rate.
That surprises me. Where did you get that information?
https://www.nzx.com/announcements/379466
IPO and demerger turned off..
Seems a strange turn off events?
Could they not raise enough institutional funds to make this successful?
https://www.nzx.com/announcements/379466
IPO and demerger turned off..
Seems a strange turn off events?
Could they not raise enough institutional funds to make this successful?
Knew it was in trouble when they sent out an SOS to Sharesies retail investors so quickly
I bought a little under 2.5 k of SPG shares not too long ago as a small foray into Stride, so will end up with just under 500 shares in fabric...which is abit of an annoyance really...
Am more interested in their Industre product in the future.
That surprises me. Where did you get that information?
Decades of professional experience as an accountant. Most wealthy people already had trusts and / or companies for investment purposes long before the 39% top personal tax was instigated.
https://www.nzherald.co.nz/business/...GWWYC22FHO6B4/ I can't help wondering how many millions Stride burned up in experts fees in trying to set up this failed spin-off strategy ? Despite what they say to try and save face I think this is unlikely to see the light of day again any year soon.
Last edited by Beagle; 22-09-2021 at 12:44 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Decades of professional experience as an accountant. Most wealthy people already had trusts and / or companies for investment purposes long before the 39% top personal tax was instigated.
What level of income do you call wealthy? There are plenty of 39% taxpayers who do not have trusts or companies. I'm surprised you claim 'most' have.
What level of income do you call wealthy? There are plenty of 39% taxpayers who do not have trusts or companies. I'm surprised you claim 'most' have.
I don't know any but then again the people I deal with are in business so many have company and trust entities already for other reasons.
FYI here's KPMG's view https://home.kpmg/nz/en/home/insight...ntroduced.html
Excerpt "Only 2% of taxpayers are expected to be earning more than $180,000"
I remain of the view that the majority of people who are making over $180,000 will already have a family trust or a company or both or several other entities. 40 years experience...what would I know
Last edited by Beagle; 22-09-2021 at 04:08 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
" family trust or a company or both or several other entities"
the wealthy in the early 90's already had their Trusts and Companies and you only need to have a copy of "Advanced Trusts" research paper from the accounting society public in 95 to see the base work that was being "practised."
it was La Norme.
Certainly widely used for every farming and blood stock set of accounts publie.
A great read and never leave home for meeting with your barristers without it.
Originally Posted by Beagle
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