success quote breakaway marketing by rep.breakaway
success quote breakaway marketing, a photo by rep.breakaway on Flickr.

“the larger the percentage of the national income taken by taxes the greater the deterrent to private production and employment. When the total tax burden grows beyond a bearable size, the problem of devising taxes that will not discourage and disrupt production becomes insoluble.”
― Henry Hazlitt

So what we have been told for decades now is that paying tax is good but paying too much tax is not good.

How do you pay tax but not too much tax?

You pay the amount of tax that you must but as Kerrie Packer used to say “never a cent more”

I agree…especially when you see what some of the tax money is being wasted on these days.

In fact I was talking with Real Estate Developer Kenyon Clarke just the other day and we were discussing his brand new project in Auckland. This project is going to be a real money earner for people who invest in it and yet, those very same people will actually get tax deductions because they own the project.

Now that is a great investment to have.

Tax by 401(K) 2013 Tax, a photo by 401(K) 2013 on Flickr.

New Zealand ministers will try to persuade their Australian counterparts to give them access to Australia’s tax data to allow Inland Revenue to claw back hundreds of millions in student loan debt owed by expatriate New Zealanders. Prime Minister John Key and six ministers leave today for a joint Cabinet meeting with Australian Prime Minister Tony Abbott and his ministers. They are accompanied by a business delegation. Economic Development Minister Steven Joyce said he was hoping to make some progress on several bilateral initiatives related to the huge amount of student loan debt owed by New Zealanders in Australia.

Residency Tax Advice

advice on tax New Zealanders living and working overseas can breathe a little easier now tax authorities have agreed that renting out a house they own in New Zealand doesn’t automatically make them a New Zealand taxpayer.

The Inland Revenue Department has issued an interpretation of New Zealand residency after a Taxation Review Authority decision last year appeared to massively widen the scope for kiwis to be taxed in New Zealand on income earned offshore.

A key determinant in the TRA’s decision was property ownership and the existence of a permanent place of abode.

via :NZ Herald News.