Post by Kiwi Frontline on Sept 1, 2023 14:56:29 GMT 12
CHARITIES TAX LOOPHOLE SHOULD BE CLOSED
"Britain amended this charitable tax loophole in the 1920s and New Zealand is long overdue to do the same.
"Ngai Tahu businesses like Go Bus and Shotover Jet are tax exempt due to the iwi’s charitable status. Even church-owned businesses like Sanitarium or Mission Estate Winery are exempt from company tax due to an archaic and outdated British law classing advancement of religion as a charitable purpose.
"People should be able to get a tax exemption for donating to charity, but when you’ve got companies that are kind of like charity, kind of like a business, then it makes sense to split them.
"If it’s really true that they give all their profits to their charitable side then they won’t pay any tax. But if some people suspect they are getting away without paying tax and not putting as much into charity as they should, that will level the playing field for other competitors.....
www.voxy.co.nz/politics/5/421137
"Britain amended this charitable tax loophole in the 1920s and New Zealand is long overdue to do the same.
"Ngai Tahu businesses like Go Bus and Shotover Jet are tax exempt due to the iwi’s charitable status. Even church-owned businesses like Sanitarium or Mission Estate Winery are exempt from company tax due to an archaic and outdated British law classing advancement of religion as a charitable purpose.
"People should be able to get a tax exemption for donating to charity, but when you’ve got companies that are kind of like charity, kind of like a business, then it makes sense to split them.
"If it’s really true that they give all their profits to their charitable side then they won’t pay any tax. But if some people suspect they are getting away without paying tax and not putting as much into charity as they should, that will level the playing field for other competitors.....
www.voxy.co.nz/politics/5/421137