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Robin Oliver: OliverShaw Tax Partner on ASB's chief executive saying Kiwis need to pay more taxes · Best of Business

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  Speaker 1: You're listening to a podcast from News Talks Be follow
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  Speaker 2: Heather Do for the Sea, Away the Huddles with us.
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  Speaker 2: Shortly we've got Trishurs and Josephgani standing by.
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  Speaker 1: Now.
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  Speaker 2: A second big bank boss is calling for more tax
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  Speaker 2: asb's chief executive Victoria Shorter set in an interview that
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  Speaker 2: we need to lean into taxes so we can pay
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  Speaker 2: for infrastructure. And this of course comes hot on the
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  Speaker 2: heels of the A and Z boss Antonia Watson calling
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  Speaker 2: for a capital gains tax just a few weeks ago.
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  Speaker 2: Robin Oliver is a tax partner at Oliver Shawan with us. Hey, Robin, Hi,
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  Speaker 2: are you keen to pay for more tax? You think's
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  Speaker 2: a great idea?
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  Speaker 3: No, you cannot check yourself to prosperity. Our issue is
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  Speaker 3: a country is subtilized by the fact we struggle to
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  Speaker 3: pay the same wages as Australia. We're falling behind. That
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  Speaker 3: means we, for example, we can't pay our doctors, nurses, teachers,
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  Speaker 3: police it up. We need to grow wages, grow the
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  Speaker 3: economy that takes higher productivity, takes more investment and more
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  Speaker 3: innovation and tax is the enemy of those it decreases.
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  Speaker 3: It's a disincentive to save, invest and innovate. So the
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  Speaker 3: last thing we want to do is lead into taxes.
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  Speaker 2: So speaking of which, then, are you liking what David
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  Speaker 2: Seymour said over the weekend and perhaps even what Winston
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  Speaker 2: Peters said about attracting the foreign investment.
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  Speaker 3: Absolutely, we've got to attract foreign investment. We've got to
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  Speaker 3: encourage people to say for domestic investment, and we've got
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  Speaker 3: to make New Zealand a great place for investment and
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  Speaker 3: for innovative people to live it, and high taxes don't
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  Speaker 3: do it.
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  Speaker 2: Do you have any What puzzles me, Robin, is why
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  Speaker 2: both of these ladies are suddenly so keen on taxes.
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  Speaker 3: Yeah.
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  Speaker 2: Is it because they really believe it? Or is there
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  Speaker 2: some sort of branding thing going on here where they
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  Speaker 2: think that they can get some positive, positive publicity for it.
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  Speaker 3: I assume that they look at the infrastructure deficit and say, well,
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  Speaker 3: how do we fix it? And they don't understand the
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  Speaker 3: cost of taxes. It's not like you raise a dollar
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  Speaker 3: of tax for me and then there's a dollar that
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  Speaker 3: goes to the government which can then sped it. Assuming
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  Speaker 3: that government spends it wisely. The estimates of New Zealand
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  Speaker 3: Treasury are that twenty percent of the money raised in
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  Speaker 3: tax is wasted by those disincentives, reducing the economy. So
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  Speaker 3: that means you just end up with eighty cents and
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  Speaker 3: then the government doesn't spend it well, you'll end up
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  Speaker 3: with less. This is the road to poverty. This is
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  Speaker 3: the road we can't afford surgeons, doctors, nurses, teachers, police.
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  Speaker 2: Yeah, Robin, some very good points mate there. Thank you
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  Speaker 2: so much for the expertise. It's Robin Oliver, Oliver Share
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  Speaker 2: Tax Partner.
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