The New Zealand Taxpayers’ Union says the rapid growth of iwi assets is driven by
special tax treatment.
Taxpayers’ Union Executive Director Jordan
Williams says, “The corporate tax rate for Maori
Authorities is 17.5%, compared to 28% for other businesses.
And because of their ‘charitable’ status, many iwi-run
businesses don’t even pay income tax.”
“These loopholes don’t just let iwi keep more profit
– they allow iwi to gain a competitive advantage by
undercutting their competitors.”
“Look at
Shotover Jet for example. Owned by Ngāi Tahu, it pays no
company tax at all, and no guarantee whatsoever than a cent
is returned to the community. It’s just a legalised
rotten tax rort.”
“Growing Kiwi businesses
deserve congratulations. But it’s time all businesses
faced a lower tax rate – not just Maori
ones.”
If you're using Scoop for work, your organisation needs to pay a small license fee with Scoop Pro. We think that's fair, because your organisation is benefiting from using our news resources. In return, we'll also give your team access to pro news tools and keep Scoop free for personal use, because public access to news is important!
Should landlords be able to deduct the interest on the loans they take out to bankroll their property speculation? The US Senate Budget Committee and Bloomberg News don't think this is a good idea, for reasons set out below. Regardless, our coalition government has been burning through a ton of political capital by giving landlords a huge $2.9 billion tax break via interest deductibility, while still preaching the need for austerity to the disabled, and to everyone else... More
Government: Concerns Conveyed To China Over Cyber Activity Foreign Minister Winston Peters has confirmed New Zealand’s concerns about cyber activity have been conveyed directly to the Chinese Government. “The Prime Minister and Minister Collins have expressed concerns today about malicious cyber activity... More
Declining GDP for the December quarter reinforces the importance of restoring fiscal discipline to public spending and driving more economic growth, Finance Minister Nicola Willis says... More
Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More
Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More