Since coming to office, the National Government has written off $5 billion* in tax debt owed by more than a million, Labour MP Stuart Nash says.
'There are two sides to the New Zealand economy under the National government: the ‘rock star economy trumpeted by Finance Minister Bill English and the one we don't see or hear about.
'That includes the 169,000 individuals who had $930,000 written off during the last tax year. This amount has increased by over $200,000 since the 2008/2009 tax year and by nearly $300,000 since the 2009/2010 tax year – the supposed height of the global financial crisis.
'None of these figures include those individuals who are in an arrangement with the IRD to pay back overdue tax debt in a managed way. In 2014, this number increased to 81,900; up from 63,000 in the 2009 tax year.
'We also haven't heard about the 720,000 New Zealand companies who have had their total tax liabilities written off by the IRD because the IRD has assessed that their ability to ever pay back this debt is zero.
'We need to acknowledge that our so-called ‘rock star' economy isn't all about beer-and-skittles for a great many hardworking Kiwis”, said Stuart Nash.
* Write-off value excludes Child Support debt and includes Student Loan, KiwiSaver and Working for Families debt. It includes penalties and interest written off.
2 comments
Wisechief
Posted on 11-01-2015 14:59 | By Wise Chief
Seems rather unfair dead companies & near all others can have their tax debts wiped and yet there are tens of thousand on meager benefits, sickness, pensions etc who pay a portion of their benefit each week in child support. Taking this money when most don't have enough to live on defeats the purpose of exercise via greatly increasing chances of person paying debt dying early due to lack of income to keep one healthy to be able to work let alone survive long enough to pay debt off. Obviously people in tax debt who make rules just plain stupid or thick as bricks to NOT have realised this gem of intelligence. Its not about these people not being unwilling to pay child support its about them being deliberately handicapped via taking of very small amounts of money they require to stay alive to able work and then pay deb
They can afford to do
Posted on 14-01-2015 17:36 | By s83cruiser
that because the coffers are overflowing from the holiday road speed rort. They have collected that much revenue from 1Km over motorist it is all but embarrassing for the gubmint so they are trying the "Mr nice guy" tactics by writing off all of this tax. I'd sooner they collected it from those that owe it and reduce my tax responsibilities would be fairer all round, and while their at it collect those traffic finds that the judiciary like to write off for habitual offenders as well.
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