Page 7 - Robyn Walker News Today

In response to a statewide school walkout to protest California’s COVID-19 vaccine mandate for schools, dozens of parents ...

By 2pm Friday more than 47,000 businesses and sole traders had applied for the subsidy.

“We currently have issues with productivity in New Zealand, and with labour shortages constantly being in the news these days, a question I have is whether the tax system is playing a role in this.” An "effective marginal tax rate" includes not only a person’s tax rate but also how a rise in wages meant they missed out on means-tested Government assistance, like Working For Families. 123rf When you earn more, your Working for Families credits reduce and that can be a disincentive to tak...

But an IR spokeswoman indicated it wouldn’t be contacting taxpayers directly as it didn’t have an easy way to tell who paid tax under the FIF regime, let alone who among them would have had losses on the quick sale of shares. The proportion of investors who may have overestimated their taxable income this year as a result of the faulty calculator is expected to be small – especially given the vast majority of foreign shares rose in value in the year to April. The proportion who may hav...

“But it was put back up because we couldn’t find a problem with it at that stage,” she said. “We acknowledge we should have gone back and checked the detail of the fault with Deloitte, but we didn’t,” she said. Inland Revenue took down the calculator again on Monday after On Tuesday, an IR spokeswoman apologised for the fault and said taxpayers who were unable to file their tax returns by Wednesday’s deadline because the calculator was offline would not be disadvantaged. Del...

Demand for new build properties looks set to increase with the Government’s confirmation they will be exempt from its new rules for investors.

The number of refunds made hit 21,465 in early April. As at May 14, $708.8 million had been repaid. But that was down from the $762.9 million the Government had previously said was repaid to March 30. Ministry of Social Development group general manager for client services George Van Ooyen said it had identified a data entry issue with one of the figures entered for wage subsidy repayments. “We found the discrepancy as part of checks being done as part of ongoing development of our repaym...

Even if MSD can find fraud in the wage subsidy scheme, it may be reluctant to prosecute.

With median gains of about $280,000 on every profitable investment property sale, according to CoreLogic, that means a significant portion of investors’ gains are likely to have a 39 per cent rate applied, if they are captured by the bright-line test. Geof Nightingale, tax partner at PwC, said 39 per cent was a higher rate than would be applied to capital gains made in Australia or the United States. “In Australia, the top tax rate is 45 per cent plus 3.5 per cent Medicare so 48.5 per ce...

Damien Venuto: Social media influencers receiving freebies in for a tax surprise from IRD 22 Apr, 2021 01:59 AM 5 minutes to read Influencers will need to brush up on their tax obligations in the coming years. Photo / 123RF Influencers will need to brush up on their tax obligations in the coming years. Photo / 123RF OPINION: Social media influencers better think twice about accepting all the free swag theyre offered. A draft statement published this week by the Inland Revenue Departmen...