Closing Tax loopholes

It’s the Scandinavian Model, Stupid

Yesterday I talked about how the reform of our tax and welfare system is central to TOP’s long-term objective. But people have also asked me a much bigger question – we have a tonne of policy but what kind of society we are trying to create? 

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Full Success Against Foreign Artful Tax Dodgers Will Come at a Cost

Foreign companies not paying their fair share of tax is not news, it was discussed in the media last year and has come up again with the case of Apple. The approach I prefer – as written up in a paper I did on this while at the Morgan Foundation and covered in this blog is putting the onus of proof on the corporate to prove their ‘expenses’ are arms length, commercially validated transactions. No proof, no deduction. The common approach of transfer pricing wherein licence fees charged the NZ-based relation suck all the profits out of our tax jurisdiction simply won’t work with that approach.

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The problem with NZ super

Yesterday I was at a retirement village and we ended up having a chat about the topic of the day - NZ Super. Here is a summary of why we can't wait around to deal with this issue.

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NZ Super Claims Don’t Add Up

Our new Prime Minister Bill English has made a tentative nod towards the unaffordability of New Zealand Superannuation, raising the age of eligibility to 67 in 2040. It’s a timid step given the size of the issue, but that is typical of his Government’s incremental approach.

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Born with our heads in the trough, still with our heads in the trough

The 2017 election will be held against a backdrop of more voters (57%) being younger than the combined total of Boomers and older (43%). It is this reality that might be behind the National Government’s belated realisation that superannuation is unaffordable and needs reform.

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Closing Housing Tax Loopholes Would Solve Demand AND Supply Problems

In a new report the Auckland housing market has now been ranked as the fourth most expensive in the world (behind Hong Kong, Sydney and Vancouver), with houses worth 10 times the average household income. What is even more worrying is that other centres such as Tauranga are rapidly catching up. 

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“House Prices Cool Off” – Yeah Right

The latest Weekend Herald led with the headline “House Prices Cool Off”. Given that house prices in our largest city are already grossly unaffordable, you could be fooled for thinking that meant prices had stopped climbing, and might even be falling.

Fat chance.

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The Enemy is Babyboomer Denial

While most New Zealanders agree that making New Zealand fair again is a priority – there is, amongst those reluctant to invest to make that happen, a common theme. It is best described as the denial of a portion of the babyboomers and older (those aged over 53). There is a cohort of this group who fall victim to intemperate and righteous indignation at the suggestion that they have had a free ride and that has driven in the rise in inequality.

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TOP’s policy to make New Zealand fair again; Some numbers

Take 8% of your gross income, and that’s your tax cut. Take 1.5% of the equity in your house and that’s the additional tax to pay. This gives you roughly (and I mean rough) the order of magnitude of how closing the loophole in the income tax regime affects you.

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How our Tax Reform will result in more houses being built

We’ve had a lot of people asking about how our tax policy will result in more houses being built. This blog will answer that in more detail.

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