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  1. #9971
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    Although I loathe to keep this historical debate going.
    Lange was the leader & a charismatic one at that, he had a great intellect and was one of NZs best orators.
    Being the leader he must get quite a bit of credit for the changes that were made to modernize NZs economy.
    Some of the change was probably done too rapidly, however it set up NZ for the next 40-50 years.
    MJ Savage another great Labour leader must stand out FP, only 50 years earlier than Lange/Douglas.
    Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.

  2. #9972
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    Quote Originally Posted by Daytr View Post
    Although I loathe to keep this historical debate going.
    Lange was the leader & a charismatic one at that, he had a great intellect and was one of NZs best orators.
    Being the leader he must get quite a bit of credit for the changes that were made to modernize NZs economy.
    Some of the change was probably done too rapidly, however it set up NZ for the next 40-50 years.
    MJ Savage another great Labour leader must stand out FP, only 50 years earlier than Lange/Douglas.
    I certainly give credit to Savage, a man for the time; I should have said 50 years, not 70. Couldn't agree less about Lange. Clever, but a strange character. He killed his own party when they were on a roll.

  3. #9973
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    Back to NZ being a soft target for hiding money.
    How would we know what this activity is hiding. Terrorist funding, drug money, money laundering from criminal activity or just straight tax evasion.
    Not gathering sufficient information has opened us up to all sorts of dodgy activity.
    The government was warned on several occasions in recent years to act.
    They sat on their hands.
    Key in his usual way, is trying to play it down.
    Nothing to see here.
    What will be the distraction to take away further scrutiny ?
    We have already had a referendum , what else can he conjure up?
    Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.

  4. #9974
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    Quote Originally Posted by Daytr View Post
    Back to NZ being a soft target for hiding money.
    How would we know what this activity is hiding. Terrorist funding, drug money, money laundering from criminal activity or just straight tax evasion.
    Not gathering sufficient information has opened us up to all sorts of dodgy activity.
    The government was warned on several occasions in recent years to act.
    They sat on their hands.
    Key in his usual way, is trying to play it down.
    Nothing to see here.
    What will be the distraction to take away further scrutiny ?
    We have already had a referendum , what else can he conjure up?
    Here's a good article about our trust system from The Standard.

    http://thestandard.org.nz/deborah-ru...oreign-trusts/

    There's more good detail in comment '2', from what looks like an insider in the legal area.

    The solution is simple, we collect more information from foreign trusts, and we force the few NZ lawyers who are only earning a total of $20mill a year from this despicable work, into the AML system, which must be an overseas standard.

    We're already bringing up the rear. Currently NZ's rules for foreign trusts are the loosest in the OECD.

    http://www.stuff.co.nz/business/indu...y+6+April+2016
    Last edited by elZorro; 06-04-2016 at 06:50 AM.

  5. #9975
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    Quote Originally Posted by Sgt Pepper View Post
    I always find it intriguing that you are dismissive of any Labour politician regarding their academic credentials. He " was a lawyer" etc. I note you conveniently ignore that Bill English has an English Literature degree and Steven Joyce has a degree in Zoology.
    What on earth is dismissive about saying someone is a lawyer? Lange was a lawyer and made no secret of his lack of understanding of economics.

  6. #9976
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    Agree, so why hasn't National done this already.
    The risk has been raised at leapt twice in the last few years.

    In your previous post you said Lange destroyed his party.
    Strong words. I am a little young to remember fully, but I would suggest he was a very good leader in his first term '
    Ego & the rift got in the way in his 2nd.

    Quote Originally Posted by elZorro View Post
    Here's a good article about our trust system from The Standard.

    http://thestandard.org.nz/deborah-ru...oreign-trusts/

    There's more good detail in comment '2', from what looks like an insider in the legal area.

    The solution is simple, we collect more information from foreign trusts, and we force the few NZ lawyers who are only earning a total of $20mill a year from this despicable work, into the AML system, which must be an overseas standard.

    We're already bringing up the rear. Currently NZ's rules for foreign trusts are the loosest in the OECD.

    http://www.stuff.co.nz/business/indu...y+6+April+2016
    Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.

  7. #9977
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    And of course this "tax haven" situation was never allowed to exist under Labour ?

  8. #9978
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    I wouldn't get too excited about NZ's "ranking" in the tax haven league tables. After all, Britain has been described as the world's most efficient tax haven because of its extensive variety of exemptions and deductions - why else would so many ultra wealthy foreign nationals choose to be domiciled there?

    It's a sad fact that unless some form of comprehensive international agreement puts an end to it, countries will continue to compete with each other to attract capital through various types of "incentives".

  9. #9979
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    Quote Originally Posted by macduffy View Post
    I wouldn't get too excited about NZ's "ranking" in the tax haven league tables. After all, Britain has been described as the world's most efficient tax haven because of its extensive variety of exemptions and deductions - why else would so many ultra wealthy foreign nationals choose to be domiciled there?

    It's a sad fact that unless some form of comprehensive international agreement puts an end to it, countries will continue to compete with each other to attract capital through various types of "incentives".
    That's no excuse. We don't make anything significant out of it, it's only helping the corrupt system along worldwide, so we should do our best to stamp out the practice on our own shores, where we can immediately make an impact. Maybe as Labour pointed out, some major sources of cash from these trusts are being spent on housing assets in NZ, for a double whammy. No external income tax to pay, plus a near certain capital gain with no capital gains tax in NZ. It would all boost our GDP figures quite well in that case, just what National needs to hide their truly abysmal economic performance. Bonus, NZ is not widely known to be a tax haven. Not yet, anyway.

    Craic, I have no doubt that given the new revelations, a Labour Govt would act on trusts. They, at least, do have principles.

  10. #9980
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    From what I have read is that NZ asks for less information than most of our Western peers.
    And that's precisely why NZ has become a soft target for these offshore trusts.

    Quote Originally Posted by macduffy View Post
    I wouldn't get too excited about NZ's "ranking" in the tax haven league tables. After all, Britain has been described as the world's most efficient tax haven because of its extensive variety of exemptions and deductions - why else would so many ultra wealthy foreign nationals choose to be domiciled there?

    It's a sad fact that unless some form of comprehensive international agreement puts an end to it, countries will continue to compete with each other to attract capital through various types of "incentives".
    Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.

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