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Green Party calls for one-off windfall tax on record profits in banking, energy, supermarket sectors…
Main Post: Green Party calls for one-off windfall tax on record profits in banking, energy, supermarket sectors...
Top Comment:
Or maybe look at better regulation in these markets so they aren't making excess profits off the backs of the majority of kiwis?
Form a political party to save tax ?
Main Post:
I was going through tax saving schemes and just read that contribution to political parties has no limit and the tax exemption is 100%
I did research and found that it's only 10k to register a political party.
So technically, I can donate my whole salary to myself if I am running a party(and not do anything)
Does anyone has some advice on this ? I'm not kidding, I don't want to pay so much tax, I pay around 13L per annum and it's frustrating. 😅
Edit: Okay, this is blowing up. I was frustrated with what I am paying as tax . I have to declare I do not have the balls to actually do this. I probably would if taxes were in crores. I don't want to get in soup to save 13 lakhs. I just wanted to know if it's possible to do this at all. But let's just amuse ourselves for a day thinking this is going to happen immediately.
Edit 2: For people who think this cannot be done because tax deducted at source(TDS), I think there is something called TDS refund. CAs of Reddit, please post your inputs.
Edit 3: Please look at 80GGC before you say this cannot work. I don't have the solid knowledge on this, I gathered this from articles. I still have to actually read income tax act. Anyone who knows the actual nuances, please comment.
Top Comment:
I'm definitely contacting my lawyer friend to understand more on this shit.
Y'all vote for me when I come out on the electoral map.
The Opportunities Party Tax Switch Calculator
Main Post: The Opportunities Party Tax Switch Calculator
Top Comment:
A lot of "I really liked TOP until I learnt they would increase MY taxes" in this thread... it's CGT all over again 🫠
ACT Party commits to dumping Clean Car 'ute tax'
Main Post: ACT Party commits to dumping Clean Car 'ute tax'
Top Comment:
The whole "Ute tax" moniker fucks me right off. It's gaslighting.
The tax is based on EMISSIONS, not vehicle type.
There are Utes that incur little to zero tax.
There are SUVs that incur the highest tax.
Who would've thought that a massive fucking double cab fridge on wheels with a 3l V6 has bad emissons? No fucking shit.
Tory party secretly plotted £30 million of tax payers money by...
Main Post: Tory party secretly plotted £30 million of tax payers money by...
Nadhim Zahawi tax row: Conservative Party chairman determined to stay on, say allies
Main Post: Nadhim Zahawi tax row: Conservative Party chairman determined to stay on, say allies
Top Comment:
Well most of his colleagues got away with criminal behaviour, so I guess he thinks he should too.
One rule for them, another for us plebs - do we think this is right of our "leaders"?
Did the IRS just delay the new third party payment tax reporting rules for ANOTHER year?
Main Post:
Am I reading this right?
IRS provides transition relief for third-party settlement organizations; Form 1099-K threshold is $5,000 for calendar year 2024
Link:
More:
Under the guidance issued today, TPSOs will be required to report transactions when the amount of total payments for those transactions is more than $5,000 in 2024; more than $2,500 in 2025; and more than $600 in calendar year 2026 and after.
Notice 2024-85 also announces for calendar year 2024, that the IRS will not assert penalties under section 6651 or 6656 for a TPSO’s failure to withhold and pay backup withholding tax during the calendar year.
Looks like tax evasion is back on the menu boys? Happy Thanksgiving everyone!
Top Comment: A lot of people expected this to happen since it would be an election year.
Stop Labour's Jobs Tax - New Zealand National Party
Main Post: Stop Labour's Jobs Tax - New Zealand National Party
Top Comment:
The most disgusting part is how expensive it is.
Last time I ran the numbers for myself, this costs significantly more than a private provider, and returns significantly less.
Election 2023 live: National Party releases full tax plan
Main Post: Election 2023 live: National Party releases full tax plan
Top Comment:
Adjusting income tax brackets? 👍
Take note, Labour...