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Tax reform on the agenda

Discussion in 'Accounting, Tax & Legal' started by Simon Hampel, 22nd Apr, 2008.

  1. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    AM - Tax reform on the agenda

     
    Last edited: 17th Sep, 2016
  2. Jacque

    Jacque Team InvestEd

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    I can't see GST being reduced at all- when NZ first bought it in it supposedly was never supposed to rise....

    I love the Summit concept and think it's great as a huge thinktank but practically, what results come from it that are implemented?
     
  3. Nigel Ward

    Nigel Ward Team InvestEd

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    I've read some research (admittedly a few years back now) that said (from memory) that if the GST was more broadly based (i.e. the Democrats hadn't gotten basic food removed) and the rate was a bit higher i.e. 12.5% then we could significantly reduce/simplify much of the income tax system.

    I don't have any metrics on that but the hideously complex system we have now coupled with the "self assessment" model makes it pretty difficult for anyone with even modestly complicated investments or structures to be completely confident they and their advisers have gotten it right.

    The current system is good news for the accounting/tax and legal fraternity - bad news for business and tax papyers. (altho I reckon an awful lot of tax professionals would daily wish for a simpler system).

    Cheers
    N.
     
  4. Simon Hampel

    Simon Hampel Co-founder Staff Member

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    Lateline Business - 22/04/2008: Tax review must including everything: Warburton

    Lateline Business - 23-Apr-2008
     
    Last edited: 17th Sep, 2016