The P in Peter Dunne actually stands for Persecution

Mark Hubbard's picture
Submitted by Mark Hubbard on Tue, 2010-06-22 03:36

This is one of the blackest days since the National Socialists came in.

Qualification: I make a post like this only because in tax affairs I am extremely conservative given I am absolutely terrified by Nanny State. She works by force and coercion, and don't you doubt she's got me scared stupid.

I've already made my posts on poor old Allan Hubbard. But there's a raft of tax news out today, including an Alert from IRD regarding the Penny and Hooper case which clarifies none of the issues coming out of that case, other than showing that many taxpayers in NZ are going to get done-over on salaries, and forget your company, just take all income out to yourself and tax it at the highest individual tax rate. English lowering the company tax rate is now for many tens of thousands of small companies - the backbone of NZ - a very sick joke. He has created a company tax rate of 28%, but if you try and use it IRD will take you for tax avoidance. Ain't it great. What a farce.

So as well as a GST increase, increases in ACC, the ETS, etc, etc, effectively, there is now an income tax rate increase in NZ also.

And it gets worse. All I need do is copy Herr Peter - Persecution - Dunne's latest press release (note particularly the final paragraph):

From: http://www.netprophet.co.nz/ne...

Inland Revenue could yet get a further large increase in its budget for audit activity. Revenue Minister Peter Dunne told MPs this week.

Asked about the likely payback from the extra $120 million awarded in the Budget for extra investigative work, both Mr Dunne and Commissioner for Inland Revenue Robert Russell, told Parliament's finance and expenditure select committee the payback is likely to be large.

Russell said some of the money would go on debt collection and this would make "about $8 for every $1 spent; some is going on the property sector and that gets us about $7 for every $1 spent".

He says the rest is going to the hidden economy "and that tends to be more difficult and intense but we think we can get about $5 for every $1".

Dunne said the previous government gave Inland Revenue $14.6 million over three years to target the property sector and this had raised far more money than had been expected.

"I used that to push for $120 million this year and if this is as successful no doubt we'll push for more again," he says.

Peter Dunne is not the friend of business or of freedom. Remember that last excited line of his come the next election.


( categories: )

Cameron and Obama agree on budget cuts

Marcus's picture

"The two leaders were said by sources to be "on the same page" over the strategy despite US fears that cutting too fast could damage the global economic recovery."

http://uk.news.yahoo.com/4/201...

Who would have thought Obama cared about the UK budget?

Maybe he's scared the deficit-cutting Brits are giving him a bad rep?

I remember when I first started voting...

Marcus's picture

...some time around 1990, I voted for Labour. They were the free-market party at that time.

After I voted I witnessed Peter Dunne flouncing into the voting booth with photographers and a flower on his lapel.

It made me feel sick.
........................................................................................

Anyway, on a related note: the UK budget 2010 was announced today. Here is the good news:

"Debt will be falling and structural current deficit should be balanced by 2014.

77% of total consolidation to be achieved through spending reductions and 23% through tax increases."

"Taxes
• Corporation tax, currently 28%, to fall by 1p in the pound a year for four consecutive years until it reaches 24%.

• Small companies tax to fall to 20%.

• New firms outside south-east/east to be let off employer national insurance contributions, up to £5,000, for each of first 10 employees recruited.

• Government to work with local authorities to freeze council tax for one year from April next year.

• Personal income tax allowance to be raised by £1,000 from April to £7,475. Will take 880,000 people out of tax altogether."

This however is a complete shocker!!! Thanks to the coalition for this:

"Drinks, cigarettes and fuel

• No increase in duties."

http://www.guardian.co.uk/uk/2...

All SOLO releases featuring

Mark Hubbard's picture

All SOLO releases featuring Dunne should henceforth title him Peter the Persecutor Dunne, and refer back to this press release of his.

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