Re:One economist went on a long whimsical journey to pay his...
by Taniwha on Monday April 17, 2023 @05:47PM
(#35607063)
In NZ we generally don't have ANY deductions (nor a tax on capital gains) - this makes filing tax easy - if you have one employer chances are they got your tax exactly right - most people don't even need to file - and certainly none of that fluffing around telling your employer how many 'deductions' you want them to fudge your PAYE with. As an employer it's equally simple, I do my payroll with a simple line in a spreadsheet.
Re:One economist went on a long whimsical journey to pay his...
by singron on Tuesday April 18, 2023 @11:52AM
(#35615676)
NZ doesn't have a separate capital gains rate like the US, but capital gains are still taxed as income, so donating stocks might actually be more worthwhile there unless there is some special tax treatment. Obviously simplified filing is nice.
Although usually the best thing is to donate stock with high gains to avoid future capital gains tax, but you have to understand a lot of tax rules to realize that's a good idea, and there are plenty of extra forms to file at tax time.