The delicious justice of a $645m repayment

July 17, 2009

If it weren’t for we taxpayers – and for the governments that pumped our hard-earned money into it when collapse was threatened – there would be no Bank of New Zealand.

The BNZ was bailed out to avoid failure in 1894 ( a bit before Alf’s time) and again in 1990 when the newly elected Bolger Government bailed it out to the tune of $600 million.

Alf gave his approval to the Bolger rescue, which we Nats deemed necessary to avert a collapse with huge potential implications for the broader financial sector.

There’s something deliciously appropriate, therefore, in the size of the penalty imposed on the Bank for tax dodging (believed to be New Zealand’s biggest tax avoidance case, according to the Herald) .
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A taxing question about living standards

March 31, 2009

Dunno why tax expert Jo Doolan should have wanted to contrast Ponsonby with Eketahuna. Or Eketahuna with Ponsonby.

It’s a bit like trying to decide if pears are better than apples, or crayfish superior to champagne.

But perhaps that was her point.
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An ill-considered expression of gratitude

March 17, 2009

Alf extends his thanks to Whale Oil for alerting him to some provocative stuff (at least it will be here in Eketahuna) from North Shore mayor Andrew Williams.

Whale Oil finds the Mayor a rich source of fodder for his blog, and thus keeps an eye on mayoral statements, such as that reported by TVNZ.
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Much too taxing for a rural MP

March 13, 2009

As the masthead on this blog shows, there are more than a few small businesses in the humming township of Eketahuna. These should benefit from something Revenue Minister Peter Dunne highlighted yesterday.

He welcomed

… Inland Revenue’s update of tax regulation Determination E11 as a further measure to reduce compliance costs on businesses.

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