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Goldsmith’s Commitment On Charitable Tax Exemption Welcomed

Responding to Paul Goldsmith’s promise that the National Party would “definitely look at” taxing charity-owned businesses, New Zealand Taxpayers’ Union spokesman Louis Houlbrooke says:

“We’re welcoming this commitment from Paul Goldsmith and will be holding him to it if he’s made Finance Minister. The fact businesses like Sanitarium enjoy a tax exemption is incredibly unfair on their competitors. And as a general rule, the taxes can be made lower when the burden is spread across the economy.”

“As we explained in our submission to the Tax Working Group, companies owned by charities have an unfair commercial advantage, because they receive a tax exemption on all of their earnings, not just the portion distributed to the charitable cause. There is a risk that charities may reinvest any distributed earnings from the companies they own and therefore avoid their tax obligations.”

“While he’s at it, Paul Goldsmith should also investigate the special tax status of iwi-owned enterprises, which face a lower corporate tax rate and therefore are able to squeeze out competitors.”

© Scoop Media

 
 
 
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Gordon Campbell: On The Sharma Chameleon


Gather round the camp-fire, folks. Let me tell you about the Ice Age era of the fourth Labour government, when mean, sabre-toothed tigers like Richard Prebble ranged at large within the Labour caucus. A being so mean and fierce that - legend has it – he once made Michael Cullen cry. So while Labour MP Dr Gaurav Sharma may (or may not) have suffered cruelly at the hands of his colleagues one thing is clear: former Labour whip Kieran McAnulty is no Richard Prebble. If you can be bullied by the likes of Kieran McAnulty, you might need to have your hand held while you cross the road in the political traffic...
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