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29-09-2021, 01:42 PM
#2291
 Originally Posted by fungus pudding
Somewhere along the line you will be whacked with the extra tax though, unless your or your ltc's company earnings fall short of 180k. Thought you might have a suggestion or two.
I have one, pay your tax obligations.
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29-09-2021, 01:51 PM
#2292
Originally Posted by Panda-NZ-
I have one, pay your tax obligations.
I certainly will as I always have. But I will not pay more than I am legally obliged to. However I'm quite happy for you to pay as much as you like.
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29-09-2021, 01:52 PM
#2293
Originally Posted by TeslaGod
No the LTC helps pay for outgoings.
I have a 7 figure credit facility, it's not an income.
A play on words I think.
Company profit becomes your profit - income.
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29-09-2021, 01:55 PM
#2294
Originally Posted by fungus pudding
Somewhere along the line you will be whacked with the extra tax though, unless your or your ltc's company earnings fall short of 180k. Thought you might have a suggestion or two.
Unless they put up the corporate tax rate even if they did, It doesn't worry me so because like I said I don't earn an income.
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29-09-2021, 01:58 PM
#2295
Originally Posted by TeslaGod
Unless they put up the corporate tax rate even if they did, It doesn't worry me so because like I said I don't earn an income.
Companies don't pay tax on their NZ derived revenue (imputation).
The company tax hike would hit foreign shareholders.
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29-09-2021, 02:00 PM
#2296
Originally Posted by Panda-NZ-
I have one, pay your tax obligations.
The LTC has tax obligations , I don't.
I don't have a job or earn an income.
Credit facilities, margin and capital gains is my (income) and you can't tax it.
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29-09-2021, 02:06 PM
#2297
GST will find you and hunt you down...
It will be a token amount probably but its something.
Last edited by Panda-NZ-; 29-09-2021 at 02:07 PM.
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29-09-2021, 02:10 PM
#2298
Originally Posted by TeslaGod
The LTC has tax obligations , I don't.
Either you are playing with words or don't understand what a LTC (Look Through Company) is.
Profits and (ringfenced) losses drop to the shareholder.
The tax obligations become the shareholders.
That is the basis of LTCs.
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29-09-2021, 02:11 PM
#2299
Originally Posted by Panda-NZ-
GST will find you and hunt you down...
It will be a token amount probably but its something.
I'll be sure to wipe my crocodile tears with all the new money Adrian Orr just printed.
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29-09-2021, 02:12 PM
#2300
Tell me something I don't know dobby41
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