The complete morons in this Government, having almost no business experience, have had to perform a rather unusual feat not seen before in political wilds: a reverse ferret, performing backflips, three times.
The government has quietly delayed changes to the tax system designed to stop people using companies to avoid paying the top rate of income tax, after outcry at the proposals put forward by IRD.
The government feared the new top income tax rate of 39 per cent on income earned over $180,000 creates a greater incentive for people to use companies to avoid having income taxed at that rate.
NZ Herald
Of course they would do that. These socialist clowns think everyone is as retarded as them. People who earn more than $180,000 per annum earn that much because they are smarter than the average bear, and they sure as hell will adjust their structures to ensure they pay as little tax as possible. It is every citizen’s right, indeed duty, to pay as little tax as is legally possible.
All this could, of course, have been avoided if this Government hadn’t created the massive incentive to do precisely that, and had simplified the tax regime rather than made it more complicated.
In March, Revenue Minister David Parker, Finance Minister Grant Robertson and IRD put proposals to tighten tax rules to block people from using this route to minimise their tax burden.
That consultation finished in April. IRD said if it were to adopt any of the proposals it would be in “the second half of 2022”, meaning they would apply “from the 2023-24 income year”.
IRD now says it will not proceed with the proposals at this stage following “a number of concerns” raised by submitters. This prompted ministers to instruct officials to do further work on the proposals. A common concern was the proposals would unfairly capture people who were not using structures to avoid tax.
Instead, IRD will likely put new proposals out to another round of consultation this year. This means the changes will not be included in tax legislation currently set to come to parliament in August.
A spokesperson for IRD said, “Officials have reported back to the ministers of revenue and finance on the submissions received in response to the dividend integrity and personal services income attribution discussion document.
“Submitters raised a number of concerns and ministers have asked officials to do further work on the proposals.
“There is likely to be further consultation later in the year. The proposals therefore will not be included in the Tax Bill that is likely to be introduced in August,” the spokesperson said.
NZ Herald
Let me translate that for you. ‘We screwed up so badly that it was politically unpalatable to even try to ram this through this year, and so we’ve kicked it down the road for another year, when it is even less likely to be implemented because it will be election year and annoying wealthy people will simply pour millions of dollars into the coffers of our political enemies.’
These bitter socialists know only how to despise those who generate wealth. David Parker, in particular, is a bitter grey man, who couldn’t even pull a decent chick unless she was married to a stroke victim. No hard feelings David, but hey you defamed me in parliament.
They never think anything through. They’ve just taxed away without realising that they’ve created an environment that encourages such behaviour. It doesn’t matter what they dream up: wealthy people will find a way around it.
They’d be far better to flatten the tax regime, remove barriers and make it not worth the while of wealthy people to juke the corrupt tax system.
Good luck to them trying to raise taxes in election year.
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