Disgusting waste of TAX payers funds
This week it emerged that while the Tax Working Group has disbanded, Cullen has had his contract extended by the Government.
Cabinet papers show Cullen was to be paid $1062 a day in his role as chairman of the TWG.
“We extended his appointment as the chair of the TWG to 30 June because we were aware there would be extended public discussion on the report, and this has played out,” Finance Minister Grant Robertson said in a statement
https://www.kiwiblog.co.nz/2019/03/c..._national.html
Disgusting Waste of Taxpayer Money Part II - How many $ to Implement
[QUOTE=JBmurc;750420]This week it emerged that while the Tax Working Group has disbanded, Cullen has had his contract extended by the Government. Cabinet papers show Cullen was to be paid $1062 a day in his role as chairman of the TWG. “We extended his appointment as the chair of the TWG to 30 June because we were aware there would be extended public discussion on the report, and this has played out,” Finance Minister Grant Robertson said in a statement
https://www.kiwiblog.co.nz/2019/03/cullen_being_paid_1000_a_day_to_attack_national.ht ml[/url
Thanks JBMurc
I understand the Government is interested in feedback on CGT from voters.
If this was not a costly, error fraught issue for kiwis and taxpayers, I would not comment on a political matter.
However on this I feel we all should provide feedback as we see it - any shade any side of the arguments - our authentic views
I agree with those TWG members who considered some plans unworkable and complex and are against a Cullen CGT tax.
A few of my de Bono type "white facts" or musings.
Cullen in 18 years in Parliament, some as Minister of Finance, did not see any merit - however at $1000+ a day he is happy to present options.
Robertson and Adern are financially inexperienced - if they make enough mistakes, like CGT on the scale outlined they may learn something ...
If there are problems with a small % with extensive property who pay little tax this can be addressed with current tax laws.
When the last Tax Law rewrite started the goal was to simplify the Act and reduce the size. That worthy goal was abandoned.
Politicians, Coalition Governments and bureaucrats as usual will likely create a new CGT monster ...
If more revenue is the issue Jacinda needs the courage to increase tax and GST with transparency or cut Govt expenditure & give up the "CGT rabbit out of the hat" trick with "someboby else" paying for the feel good stuff"
Uncertainty is costly, time lost can never be regained, and the Government is clearly uncertain - why get Cullen yesterdays man to advise ...
The Govt should do their job ... just better than Kiwibuild ...
A simple tax system is always best
While Jacinda is one of the best Spin presenters in the world her arguments / illusions such as Norway and Canada have a CGT, implied therefore NZ ...
I am sure we all remember "correllation is not causation"
What do you think?
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Overall the CGT in its current form is going hurt the average kiwi battler(esp the new investors looking to make their first investments in property) more so than the well-off they think will take the brunt of the extra TAX...
For me personally, this CGT plan won't affect us much at all.. I don't have a Kiwi saver ... I trade shares within a company structure so pay tax anyway as does anyone they trades shares or crytpo / bullion /art etc..
and have speculated with property in the past so tainted anyway now and bright line test is 5yrs so speculators are caught these days anyway...
And you add in the fact Capital values of most of NZ property is at record highs in this long bull cycle more likely those selling over the next decade may well take a loss and need tax rebates ,,
in 2016 the US-based Tax Foundation ranked New Zealand’s overall tax system as second in the developed world for its competitiveness - and top for its individual (personal) taxes.
then along comes Cindy >>>