tax

Dodgy socialist Argies using drones to catch out rich tax dodgers

The Argie government is using drones to catch out dodgy rich pricks who are rorting taxpayers on their tax returns.

The Argentine government has used drones to catch out wealthy tax evaders who had not declared mansions and swimming pools.

Unmanned aircraft were dispatched over an upper class area of Buenos Aires and discovered 200 homes and 100 pools that had not been detailed on returns.

Tax officials said the drones took pictures of luxury houses standing on lots registered as empty.

The evasions found by the drones amounted to missing tax payments of more than $2 million and owners of the properties have been warned they now face large fines.    Read more »

Almost as good as his cat killing policy

Here I was thinking the other day that I don’t agree with Gareth Morgan on anything much at all, except for his cat killing policy.

But I have found another thing to agree with him on.

Flat Tax.

Now that is almost as good as his cat killing policy…it could be improved by providing additional tax rebates for cat killing professionals.

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New study shows that ‘the rich’ don’t just pay their ‘fair share,’ they pay almost everybody’s share

cbo11

A US study has shown that the claims of the leftwing that the rich should pay even more tax as being just and fair in the world is based on lies.

They already do pay more than their fair share, in fact they pay almost everybody’s share.

[T]he major finding of the CBO report is that the households in the top income quintile are the real “net payers” of the US economy. The average household in the top one-fifth of American households by income paid $57,500 in federal taxes in 2011, received $11,000 in government transfers, and therefore made a net positive contribution of $46,500. The second-highest income quintile basically just barely covers its transfer payments, so it’s really the top 20% of “net payer” households that are financing transfer payments to the entire bottom 60% AND financing the non-financed operations of the entire federal government.

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Cut the corporate welfare and lower taxes before Australia

The IRD is warning the government will have to cut corporate taxes if Australia lowers theirs.

What a good idea.

Inland Revenue has warned the Government may have to consider cutting the company tax rate next year if Australia drops its rate.

In a briefing to Revenue Minister Todd McClay, the tax department said New Zealand’s aging population could result in pressure to raise taxes to pay for health and pensions.

But it said the Government would need to take into account developments in other countries when considering company tax, which was cut from 30 per cent to 28 per cent in 2011, undercutting Australia’s 30 per cent rate.

“Tax changes in Australia should continue to be monitored as they can have important implications for New Zealand,” Inland Revenue said. “A particular focus will be Australia’s White Paper due out at the end of 2015.

“If, for example, there were a substantial reduction in the Australian company tax rate, the question of whether New Zealand should follow suit would arise,” it said.

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More health troughers score big from the Marsden Fund

Another set of health troughers has been revealed to be attacking food and drink manufacturers and all funded by the Marsden Fund.

A “sin tax” on unhealthy items is often touted as a way to stop people having them so often, but it might drive them to cheaper brands.

A team led by a University of Waikato researcher has just received $800,000 to study the idea, focusing on sugary soft drinks and cigarettes.

And while the data they’ll analyse doesn’t come from New Zealand, the findings have implications for Kiwis.

Economics professor John Gibson is leading a team looking into whether a “sin tax” would bring down consumption of fizzy drink and cigarettes.

It was one of four Waikato-led projects to receive funding from the Marsden Fund, and reaped $805,000.

“There are New Zealand studies which say 20 per cent fizzy drink tax would save X number of lives and those are the studies we have some questions about,” Gibson said.

There was a loophole in data which focused on spend rather than quantity bought, he said.

“They might simply go from drinking expensive Coke to either cheaper Coke . . . or they might go from Coke down to Pams or Homebrand,” he said.

For instance, Countdown sells a 600ml bottle of Coca Cola for $3.99 whereas 1.25L of Homebrand Lemonade is just 97 cents.

“The existing studies assume the reduction in spending translates to a reduction in quantity,” Gibson said.   Read more »

A reader analyses Len’s crazy tolls idea

tolls

Hi guys

I thought I’d ‘run the numbers’ (and a very quick calculation, nothing exciting) regarding the proposed Auckland toll.

Now, for the time being, I won’t point out the lack of actual authority here. I have a far simpler question: is this actually value for money?

Forgetting the multi-cost option, the basic proposal is for a $2 toll per trip (regardless of distance).   Read more »

Taxpayers’ Union slams Joyce for his expanded corporate welfare programme

Since the opposition is asleep at the wheel the job of holding a spendthrift government to account falls upon the shoulders of the Taxpayers’ Union.

They are holding Steven Joyce to account for his expanded corporate welfare programme.

Responding to Economic Development Minister Steven Joyce’s defence of corporate welfare, Jim Rose, the author of Monopoly Money, a Taxpayers Union report on corporate welfare since 2008, says:

“Mr Joyce defends over $3 billion in subsidies to KiwiRail and Solid Energy under his watch by saying that they are state owned. Bailouts are not the role of ministers as shareholders. Since 1986, state-owned enterprises have had a statutory duty to operate as a successful business and to be as profitable and efficient as comparable businesses not owned by the Crown. The whole idea of the State Owned Enterprises Act 1986 was to bring an end to bailouts and permanent deficits.”

“Instead of putting a failed business in the hands of receivers, Mr Joyce defends throwing good money after bad by blaming the previous government for buying KiwiRail. That was three elections ago. Elections are supposed to count for something. $3 billion in taxpayers’ money cannot be handed out in subsidies with ministers bobbing and weaving about responsibility for the amount and wisdom involved. The Treasury Benches come with a full ministerial responsibility for every single dollar of taxpayers’ money spent under your watch.”    Read more »

Public Health Activists Playing #Dirtypolitics [UPDATED]

Well, well, well, looks like all the crying from academic activists in the field of public health is just a big fat smokescreen.

They just don’t like anyone taking a look at what they’re really up to.

WOBH has highlighted over the years various troughers gouging the public just so they can travel the world to fancy conferences. It started with tobacco troughers, but has quickly spread to troughers looking at alcohol restrictions and obesity/fat taxes.

Now we see the real agenda of the public health activists. Global taxes on products they don’t like.

The Taxpayers Protection Alliance has an alarming blog UN Health Conference Bans Media Day After Kicking out Public and Then Passes Massive Global Tobacco Tax in Secret.

After booting the public from its meetings on Monday, the World Health Organization’s tobacco control convention ramped up its assault on transparency on Tuesday when the press was also banned from the Moscow conference.

Shortly after the media was removed from the convention, the United Nations’ health agency secretly passed the world’s first ever global tax – an outrageous scheme requiring nearly 180 countries to apply a minimum tax on tobacco products.

All indications were that the global tobacco tax would not pass until Thursday or Friday, if at all. Without the public and the media there to watch, delegates ratified the tax almost immediately.

When I, and a handful of other accredited journalists, showed up for a Tuesday morning press briefing, we were told that the briefing was cancelled and the press was no longer allowed to attend any convention events at all.

The rest of the convention, which cost world taxpayers nearly $20 million, will now take place in secret, behind closed doors. It’s a chilling and disturbing attack on the freedom of the press – especially given the impact decisions made at the convention will have on people throughout the world.

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Corporate bludgers costing Kiwi households up to $800 per annum

welfare

Bludging is rampant in NZ society.

But it is corporate bludging that is most outrageous.

And it is costing us a pretty penny. The Taxpayers’ Union has released a new report into corporate welfare and bludging.

The Taxpayers’ Union has launched new a report, Monopoly Money, which examines the cost and case for New Zealand’s extensive corporate welfare programmes. The report follows recent comments by TradeMe founder Sam Morgan, who questioned the Government’s corporate welfare programme, despite having been involved in companies that have received grants in the past.

The report, which examines the cost of corporate welfare examines government spending since the 2007/2008 budget, shows:

  • Since National took office, corporate welfare has cost taxpayers $1-1.4 billion ($600 – $800 per household) per year
  • If corporate welfare was abolished, enough money would be saved to reduce the corporate tax rate from 28% to 22.5%
  • If applied to personal income tax rates, the saving would allow the 30% and 33% income tax rates to be lowered to 29%
  • Alternatively, the 10.5% rate (applicable to the first $14,000 of income) could be reduced to 7%.    Read more »

NZ has the 2nd best tax system in the world

Not sure from which perspective it is the best, but it is nice to know we have a system that’s relatively simple and doesn’t cost much to run – relatively speaking

New Zealand should do more to promote its tax system after an international survey ranked it as the second most competitive in the developed world, a tax expert says.

The international tax competitiveness index, compiled by a United States think tank, the Tax Foundation, compares the competitiveness of the tax systems in 34 countries.

The index rates New Zealand highly thanks to its “relatively flat, low income tax”, a “well-structured property tax”, no capital gains tax and a “broad-based value-added tax” (GST).

Oh deary me… so if Labour and the Greens had a go at stuffing around with GST and CGT, we would definitely not have come in the top ten.   Read more »

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