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Robyn Walker: Deloitte tax partner on the tax changes included in Budget 2026 · Best of Business

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  Speaker 1: You're listening to a podcast from News Talks'd be follow
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  Speaker 2: There are a few big tax changes in the budget.
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  Speaker 2: Robin Walker is a Deloitte tax partner and with US
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  Speaker 2: Hi Robin, good evening. Oh, Robin, you got your fifth
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  Speaker 2: changes Finally.
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  Speaker 3: Yeah, I don't have any personal investments in fifths, but
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  Speaker 3: I am very happy that the changes are coming for
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  Speaker 3: other people to benefit from.
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  Speaker 2: Was it enough though, because it's gone from fifty thousand
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  Speaker 2: to one hundred thousand, and I feel like it's just
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  Speaker 2: kind of changing it ever so slightly when it could
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  Speaker 2: be changing more.
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  Speaker 3: I think it makes a mean it makes a meaningful difference.
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  Speaker 3: And the important thing is to remember that that is
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  Speaker 3: just the original cost of the investments. So if they
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  Speaker 3: go up above that, you're still you've still got one
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  Speaker 3: hundred thousand dollars of cost. The other thing just to
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  Speaker 3: bear in mind is we don't want investing overseas to
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  Speaker 3: be so desirable that people don't invest in New Zealand.
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  Speaker 3: So there is still a bit of an incentive there
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  Speaker 3: to say, well, actually you can have the same treatment
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  Speaker 3: by investing in New zeal And.
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  Speaker 1: Shares.
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  Speaker 2: Also, yeah, hey, what do you make of these the
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  Speaker 2: changes to the loans to shareholders if a business is
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  Speaker 2: then liquidated and the loan isn't repaid.
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  Speaker 3: Yeah, this is just a sensible tidy up, just to
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  Speaker 3: make sure the rules are working as as intended. So, yeah,
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  Speaker 3: that is a good change, but it's it's a bit
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  Speaker 3: of a one for the tax nerds in terms of
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  Speaker 3: the detail of that one.
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  Speaker 2: But it is also it's practical, right, Like it quite
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  Speaker 2: clearly will catch people who are deliberately shifting funds out
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  Speaker 2: of a business without actually declaring it his income.
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  Speaker 3: That's right. So as it currently stands, if you took
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  Speaker 3: a loan and you liquidated your business without repaying the loan,
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  Speaker 3: it's not clear how that would be taxed. This says
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  Speaker 3: that if you liquidate your business or you get it
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  Speaker 3: struck off the register, you need to repay that loan.
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  Speaker 3: Otherwise you're going to get a tax bill because effectively
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  Speaker 3: that money has been given to the shareholder.
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  Speaker 2: What do you make of the changes to the charities taxes.
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  Speaker 3: It's a bit of a mixed bag. Like, it's good
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  Speaker 3: to draw a line under the chair these changes, because
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  Speaker 3: we've been talking about it for a number of years.
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  Speaker 3: So the key change rather than trying to tax different
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  Speaker 3: types of charities or having specific and detailed, complicated rules
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  Speaker 3: for donor controlled charities, the main thing we've seen is
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  Speaker 3: just putting a cap on the total amount of donation
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  Speaker 3: tax credits that can be received, and so it is
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  Speaker 3: still very generous compared to what happens internationally. You can
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  Speaker 3: still donate one hundred thousand dollars and get a donation
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  Speaker 3: tax credit of thirty three thousand, three hundred and thirty three.
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  Speaker 3: It's a small number of people that donate above that,
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  Speaker 3: and it's still if people remember, we used to have
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  Speaker 3: a donation tax credit cap back in two thousand and
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  Speaker 3: eight that was removed and the previous cap was six
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  Speaker 3: hundred and thirty dollars, so it's definitely it's definitely good
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  Speaker 3: that we haven't gone back there. There are lots of
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  Speaker 3: people giving to charity and it's a really good thing
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  Speaker 3: to do, but you know, don't be motived by your
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  Speaker 3: donation text credits if you're one of those high rollers.
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  Speaker 3: There's also a good proposal in there to make it
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  Speaker 3: easy for people to donate their donation text credit straight
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  Speaker 3: back to the charity. If they want to. So that's
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  Speaker 3: good news for charities.
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  Speaker 2: Yeah. Absolutely, Hey, thank you, Robin, appreciate you talking us through.
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  Speaker 2: It's Robin Walker, Deloitte Text Partner.
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