The real economy is of course the supply of goods and services to satisfy peoples needs and some wants. In income tax, gains of capital are not taxable and gains of revenue are taxable. This particular technique can be fixed relatively easily by simply removing for tax purposes the capital/revenue distinction for any non-individual entity. And in New Zealand interest for having that sneaky loan is deductible from New Zealand tax. The current laws and policies are feeding an economy fixated on a path to wealth around the holding of capital assets.


Source:   New Zealand Herald
November 21, 2022 23:12 UTC