Bare land included in $1bn tax crackdown on housing speculators msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Parker was before Parliament’s Finance and Expenditure Committee on Wednesday answering questions about his portfolio’s wins in Budget 2021. He found himself embroiled in a tug of war between Green and National members who variously wanted him to commit to or rule out using his new data to overhaul of the tax system.
Tax fairness Green MP Chlöe Swarbrick pushed on the other obvious point: what if Inland Revenue’s research discovers that the wealthiest aren’t paying their “fair share”? What would Parker do if he discovered the tax system wasn’t fair? “Perhaps nothing,” Parker said.
Minister says grey areas on interest tax deductability still need to be sorted.
Revenue Minister David Parker is adamant other investors will not be caught up in the tax changes property investors now face, even though he says wealthy people have tax advantages low-income earners do not.
Parker told
NBR that it was undoubtedly true that wealthy people could more easily hide their income, even though that behaviour wasn t illegal.
“If you’ve got deeper pockets, you’re well able to, or better able to, buy the advice to maximise your tax minimisation structures. You’re able to invest in investments that might not be accessible to people who are of smaller means, lower means, therefore
David Parker on changing who makes the largest bid at property auctions nbr.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nbr.co.nz Daily Mail and Mail on Sunday newspapers.