Birdwatch Note Rating
2024-10-02 04:04:53 UTC - HELPFUL
Rated by Participant: CE63BEB8CE89F84EB08DA7FBF247DE7E3E44B52A37D2F8329579E996B5845F62
Participant Details
Original Note:
The claim is Luxon “avoided” $70k in tax by timing the sale. However, the figure is significantly wrong as it is based on the gross sale price, not the taxable “income” generated. It does not account for significant and deductible costs for acquisition, holding and selling. https://www.ird.govt.nz/-/media/project/ir/home/documents/forms-and-guides/ir800---ir899/ir833/ir833-2021.pdf?modified=20210611004839&modified=20210611004839
All Note Details