Tax

Falling tax revenue could start to hurt the Government's account in the present financial year as Finance Minister Bill English prepares his 2012 Budget.

As the festive season draws closer, staff and client functions are on the agenda of many Otago businesses.

Not just income but wealth itself should be taxed, say Bruce Ackerman and Anne Alstott, writing for the Los Angeles Times.

United States President Barack Obama has taken an aggressive stance towards reducing soaring fiscal deficits, yesterday appearing to be prepared to take the Republicans front on over tax issues.

Labour's controversial proposal to introduce a capital gains tax - estimated to reap $26 billion over 15 years, principally from property sales - does not include any details of the crucial administrative costs involved.

Labour's proposed capital gains tax - labelled a populist "envy tax" - appears built on a mountain of complexities that could lead to the need to overhaul several aspects of the present tax regime.

Labour has several hooks to overcome in its bid to boost the government's tax take by more than $25 billion.

New Zealanders have little reason to celebrate "Tax Freedom Day" tomorrow if they compare things across the Tasman or over in the United States.

Earthquake-affected businesses in Christchurch are being urged to ensure they make the correct tax decisions to avoid facing more problems than just the devastation with which they are dealing.

Actor Wesley Snipes has been ordered to voluntarily surrender at a federal prison in Pennsylvania next week to start his three-year sentence for failing to pay taxes.