Deepening Crisis Behind the IRon Drape:

Mark Hubbard's picture
Submitted by Mark Hubbard on Thu, 2012-02-23 23:32

It's been a great week for Big Brother. First the Swindler of Revenue has apparently allowed the State to perpetrate what in the private sector would be a straight, unprincipled fraud on free men and women. And now because free men must be punished for the noble act of trading, there is to be no way to mitigate the State's usurious interest rates if found wanting in an audit.

Though the businessman probably knows nothing about the operation of tax - even the Swindler of Revenue has trouble with that - and his accountant or advisor may have just missed something, or come down on the slightly wrong side of gray, the businessman must be punished. Naughty little child, naughty little children. Nanny and her Big Brother Ird will keep applying the iron first of State, and break their little backs for them.

From Tax Management New Zealand, via email:

This is an important alert for any Advisors who have clients with potential tax audit or voluntary disclosure adjustments for the 2009 tax year or earlier.

Today we have been verbally advised by IRD that they will be rescinding the practice that allowed tax pool deposits to be transferred to core tax rather than UOMI. They advise that this change will be effective immediately. ... Example: Funds held in 2008 against a 2006 liability will be first reduced by 2 years’ IRD use of money interest, and the balance would then be applied against the core tax. This change in practice will have a material impact on taxpayers looking to settle back year audit positions.

And no Goblin to throw the real usurers from the lives of free men and women.

Ouch, sorry, jackboot in my neck.

The word for today, children, is fear. Fear of the State. And you would be wise to be so. Parliament is little more than a den of thieves anymore, and they have the bottomless pit of your tax money to break you, and then keep taking from you.

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