Posts by Sacha
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Revenue Minister Peter Dunne says that, while it is possible that some current non-taxable activities will become taxable, significant prior and ongoing tax losses will be offset against taxable income in the future.
“It is expected, that on the basis of published accounts, the combined councils will have existing losses of over $100 million and that ongoing losses will easily offset any new tax exposure,” says Peter Dunne.
Questions for the more economically literate:
1) Does that mean the (already-indebted) Councils will have to run up extra deficits to make up for the extra taxable income in the CCOs?
2) What will be the impact on credit ratings and applicable debt interest, especially if there are significant asset sales?
3) Wouldn't you expect this type of stuff to be worked out before decisions were made about how to split and structure the functions?
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Wasn't that Chris Carter's mum you were thinking of? :)
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Fair point too
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Or subterranean cycle trails with a Lord o Rings theme
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For years we've talked about "the Beehive" directing things, not Wellington. Just as in the UK they talk about directions from Whitehall, not London.
Fair point. Would "Transferring bucks to the Beehive" work as a headline?
The sub-editor in me
Ah, so it's yer basic newsroom clash :)
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Think campaign contributions, Bart..
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Wellington is next for the 'supercity' treatment - and I mean the region not the government.
I suspect Russell used it purely for the alliteration with "wealth", journo that he is. Interesting just how sensitive some Wellingtonians seem to be about this though. What's the matter? It's the price you pay for your local economy being propped up by government, surely - just as it is for those other capital cities like Washington, Moscow and Kuala Lumpur, whether specially constructed or not. Do their denizens complain?
Snap, Luke
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I tend to agree more at the regional economic development "positioning on world stage" end where scale matters, rather than most of the locally-oriented stuff most citizens notice, which might be harder to achieve with the new structures.
My question about standards still applies though - what's the comparison point?
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And Graeme, by what standards would you say that Auckland's Councils were failing to do all that?
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I'm reading that quoted $34m in Orsman's story as just the bill for the current Auckland City Council's ratepayers, not the whole region. Agree it's way too optimistic, nonetheless. Would just be the latest guess that the Council builds into its official budget now before it's all handed over on 31 October.