Latest / Early Edition with Ryan Bridge / Sandy Lau: PWC tax partner on the Green's wealth tax

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Sandy Lau: PWC tax partner on the Green's wealth tax · Early Edition with Ryan Bridge

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  Speaker 1: Green's pushing for this wealth tax, aiming to raise thirty
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  Speaker 1: two billion dollars over four years. This is according to
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  Speaker 1: the plan that they have put out, and they did
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  Speaker 1: so yesterday.
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  Speaker 2: We are putting out a policy that will benefit the majority.
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  Speaker 2: Ninety six percent of people will pay the same or
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  Speaker 2: less income tax. Ninety nine point seven percent of the
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  Speaker 2: population will not pay the super rich tax.
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  Speaker 1: Ninety six percent pay either the same or less. What's
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  Speaker 1: the point in adding in the ones who are the same?
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  Speaker 1: That is the question this morning. Sandy later is with
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  Speaker 1: us PwC Tax partner. Sandy, Good morning, Good morning, Rayan.
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  Speaker 1: Nice to have you on the program. So they reconnet
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  Speaker 1: revenue five point three to five billion in twenty seven
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  Speaker 1: twenty eight, rising to five point nine four billion by
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  Speaker 1: twenty thirty twenty thirty one. Are their numbers all adding
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  Speaker 1: up to you?
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  Speaker 3: Look, I think ed is a case of I was
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  Speaker 3: I mean, I need to work out and figure out
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  Speaker 3: whether the numbers is correct not. But it would seem
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  Speaker 3: to suggest that, based on the information that's in the package,
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  Speaker 3: that they have really looking to more to tax those
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  Speaker 3: that are wealthy and the big corporations, and so it
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  Speaker 3: all adds up to that five point something billion that
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  Speaker 3: you refer to.
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  Speaker 1: Do the wealth taxes work in other countries?
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  Speaker 3: I think the wealth tax has is it's appealing in
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  Speaker 3: some ways because and as the Green Parties one have suggested,
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  Speaker 3: it only applies to a very limited number of people.
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  Speaker 3: But in other countries what they've seen is that the
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  Speaker 3: practicalities of it has been quite challenging to make up
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  Speaker 3: work to make it worthwhile. So in a lot of
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  Speaker 3: commentary has been around the compliance costs that might take
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  Speaker 3: to collect the amount of tax that it will generate,
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  Speaker 3: because you know, things like valuation and inevitable there might
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  Speaker 3: be some roll lowvel relief and and sort of delay
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  Speaker 3: in terms of cash patty that that might I guess
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  Speaker 3: produce the effectiveness of that.
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  Speaker 1: Oh well, tech all right, Sandy, appreciate your time this morning.
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  Speaker 1: Sandy Loud with us PwC Text partners. For more from
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• 2:15
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