Post by Kiwi Frontline on Apr 9, 2019 9:22:44 GMT 12
IWI WANT EXEMPTIONS FOR TREATY ASSETS IF CAPITAL GAINS TAX INTRODUCED
Iwi say they have paid enough tax on Treaty settlement money and must get exemptions if a capital gains tax is introduced.
"Our treaty settlements, they were only settled at two percent of their real value, and we already think we have been taxed 98 percent of our treaty settlement.
"One of the issues we were considering was how do we mitigate this huge tax burden of 98 percent on treaty settlement, whereas the Tax Working Group only wanted to consider current-day capital gains tax.".....
www.tvnz.co.nz/one-news/new-zealand/iwi-want-exemptions-treaty-assets-if-capital-gains-tax-introduced
Iwi say they have paid enough tax on Treaty settlement money and must get exemptions if a capital gains tax is introduced.
"Our treaty settlements, they were only settled at two percent of their real value, and we already think we have been taxed 98 percent of our treaty settlement.
"One of the issues we were considering was how do we mitigate this huge tax burden of 98 percent on treaty settlement, whereas the Tax Working Group only wanted to consider current-day capital gains tax.".....
www.tvnz.co.nz/one-news/new-zealand/iwi-want-exemptions-treaty-assets-if-capital-gains-tax-introduced